Ripple Expands in UAE by Signing Zand Bank and Mamo as Customers

Ripple has signed agreements with two UAE-based customers, Zand Bank and Mamo, to expand its Ripple Payments platform in the region.

Ripple secured a license from the Dubai Financial Services Authority (DFSA) in March, enabling end-to-end management of global payments.
Zand Bank aims to launch an AED-backed stablecoin as part of its digital finance initiative.
Mamo will utilize Ripple's services for faster cross-border payments for businesses and consumers in the UAE.
Ripple Payments operates in over 90 markets and has processed more than $70 billion globally.
Ripple’s infrastructure allows money transfer in minutes, leveraging its native asset, XRP, for liquidity.
XRP prices have decreased by 3.5% in the last 24 hours amid a broader market decline.