Ripple Launches Cross-Border Blockchain Payments in UAE
Ripple, the blockchain payments firm behind XRP, has launched its cross-border payment service in the United Arab Emirates, further entrenching the country as a regional crypto center.
The service, Ripple Payments, will be introduced by Zand Bank, the UAE’s first wholly digital bank, and Mamo, a Dubai fintech facilitating business payments. The service integrates fiat, cryptocurrency, and stablecoins to enable near-instant cross-border payments.
Ripple Payments Targets Traditional Inefficiencies
Ripple’s May 19 press release says the new product will eliminate the most common problems in cross-border money transfers—high fees, settlement time, and transparency.
Ripple was licensed by the DFSA in March to operate crypto payment services in the Dubai International Financial Centre.
Reece Merrick, Ripple’s Middle East and Africa managing director, noted that the license will enable Ripple to enable the growing demand for efficient and transparent payment solutions in one of the world’s busiest remittance corridors.
UAE’s Crypto Ecosystem Gains Momentum
The launch is in line with the UAE’s vision as a whole to be a world crypto-friendly destination. While the country ranked 56th out of 151 in Chainalysis’ 2024 global crypto adoption index, it did well in the adoption of DeFi, stablecoins, and altcoins.
Several significant developments show this momentum:
- USDt by Tether was approved as a virtual asset in Abu Dhabi in December 2024.
- In 2025, Circle’s USDC and EURC became the first stablecoins to be officially recognized under the token regime of Abu Dhabi.
- The nation is advancing plans for a digital dirham, a central bank digital currency (CBDC).
Regulatory Clarity Expands with VARA Oversight
On the day Ripple revealed the UAE launch, Dubai Virtual Assets Regulatory Authority (VARA) launched greater regulation for crypto business, specifically margin trading and token distribution. There is now a 30-day compliance period for companies to adhere to the new regulatory standards by June 19.
This blend of institutional adoption and regulatory innovation is a milestone on the way to the UAE becoming a powerhouse of blockchain finance.
