Ripple’s Rollercoaster: Now Zooming Through the UAE Like a Sweeping Romance Novel!

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Ah, dear reader, gird your loins and fasten your seatbelts! Ripple is crashing onto the UAE financial scene like a particularly enthusiastic dachshund at a dog show, having teamed up with the illustrious Zand and Mamo shortly after securing a groundbreaking regulatory license. We’re now in the age of real-time, blockchain-powered payments, as marvelous as finding an extra scone in your afternoon tea! 🐾

Ripple Payments Stomps into the UAE with Such Fanfare That Even the Camels Wink!

On the splendid day of May 19, Ripple announced that Zand Bank and Mamo have taken the plunge and become the proud first customers to embrace the futuristic Ripple Payments platform in the United Arab Emirates (UAE). Following hot on the heels of a regulatory license scooped up from the Dubai Financial Services Authority (DFSA) in March 2025, Ripple has waltzed into the limelight as the very first blockchain-enabled payments provider in the region. As they so grandly described:

Since bagging the prestigious title of Dubai Financial Services Authority-licensed provider, Ripple has proudly joined forces with Zand Bank and Mamo, who will utilize Ripple’s cross-border payments solution, making traditional banking look about as modern as a horse-and-buggy!

With its shiny new regulatory status and a robust blockchain infrastructure, Ripple is now equipped to handle cross-border payments like a butler serving champagne—smooth as silk and end-to-end, no less! “This functionality, combined with our DFSA license, allows us to manage payments round the clock like a dedicated night watchman, moving funds across the globe 24/7/365 and settling payments faster than you can say ‘financial wizardry’—all in mere minutes!” Ripple confidently declared.

Ripple’s grand expansion into the Middle East and Africa is picking up speed quicker than a cheetah in roller skates, buoyed by the strong winds of regulatory clarity in the UAE and splendid partnerships with local financial wizards. Reece Merrick, Ripple’s managing director for the region, mused on the newfound clarity, declaring it a golden ticket to straighten out the tangles of traditional cross-border payments.

The head of treasury and markets at Zand Bank, the illustrious Chirag Sampat, proclaimed their alliance with Ripple as a vital cog in their grand digital innovation strategy. Rumor has it they’re planning to launch an AED-backed stablecoin, which would make even the most seasoned financiers blush! Meanwhile, Mamo’s CEO and co-founder, the ever-enthusiastic Imad Gharazeddine, boasted that this partnership will sprinkle speed and reliability over cross-border payments for both businesses and the average Joe, making it as delightful to use as a freshly polished penny. Ripple Payments now operates across a staggering 90 payout markets, having elegantly processed more than $70 billion in global transaction volume, giving any accountant a headache just thinking about it!

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2025-05-20 05:58