Ripple launches cross-border blockchain payments in UAE

Quick Summary:

Reece Merrick, Ripple’s managing director for the Middle East and Africa, said acquiring this license “enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs.”Related: Ripple, Chipper Cash partner for faster and cheaper African remittancesUAE ranked 56 out of 151 countries for crypto adoptionChainalysis, a blockchain data platform, ranked the United Arab Emirates 56th out of 151 countries for crypto adoption, according to a 2024 report.

Ripple, the creator of cryptocurrency XRP (XRP), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets.

Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be the principal users of the blockchain payments system, according to a May 19 Ripple announcement.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Cointelegraph by Christopher Tepedino

Category: Crypto

Markets: United StatesUnited Arab Emirates

Topics: Mamo Stablecoins Platform Payments Blockchain Bank Ripple Digital Cross-border Crypto Zand

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-19 @ 18:55:05 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 379 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28847593

View Article Analysis

About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 47 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

Frequently Asked Questions