Ripple has recently partnered with Zand Bank and Mamo, both financial institutions based in Dubai, to utilize Ripple's cross-border payment technology. This collaboration signifies Ripple's expansion into the region as Dubai is increasingly adopting blockchain technology to stimulate economic growth.

The partnership will see Zand Bank and Mamo incorporating Ripple Payments, a blockchain-driven solution that facilitates continuous cross-border transactions to enhance efficiency and speed by optimizing settlement processes. Ripple Payments provides access to over 90 payout markets globally and processes more than $70 billion in transaction volume annually, demonstrating its scalability and reliability.

Zand Bank, a pioneering financial institution in the UAE, aims to enhance the digital economy by introducing innovative financial products, AI, and blockchain solutions alongside digital asset custodial services. In line with this, they plan to launch a stablecoin pegged to the UAE dirham (AED) to strengthen local digital payment capabilities.

Mamo, a fintech company focusing on simplifying payments for businesses and consumers, will also benefit from Ripple's technology to improve its service offerings. The CEO of Mamo, Imad Gharazeddine, emphasized the company's commitment to making global payments more accessible and straightforward amid the UAE's anticipated business growth.

Ripple's strategic move to secure a license from the Dubai Financial Services Authority (DFSA) in March 2025 enhances its market presence, especially in key regions like the United States, Brazil, Mexico, Australia, and Switzerland. This regulatory approval allows Ripple to offer crypto payment services within the Dubai International Finance Centre (DIFC), showcasing its commitment to global financial integration.

However, despite its global expansion and regulatory achievements, Ripple faces challenges, including a legal dispute with the US Securities and Exchange Commission (SEC). Ripple's ongoing legal battles have impacted XRP's price, which has experienced a 4.4% drop over the past week and a 3.2% decline in the last day, with XRP trading at $2.3 at the time of writing.