Ripple has made significant strides in the Middle East by launching its cross-border blockchain payment system in the United Arab Emirates (UAE), a move that could further cement the region’s status as a burgeoning hub for digital assets. Announced on May 19, 2025, Ripple’s partnership with Zand Bank and Mamo will leverage the Ripple Payments platform to facilitate quicker, more transparent international transactions—a solution to the inefficiencies plaguing traditional financial systems.
A New Era for Cross-Border Transactions
The deployment of Ripple Payments in the UAE is not just about technology; it’s a statement. This platform combines the stability of stablecoins, the innovation of cryptocurrency, and the reliability of fiat currency to offer a seamless payment experience. What does that mean for traditional banking? Here’s the twist: it allows for instantaneous settlement and reduced fees, tackling the long-standing issues of time delays and high costs that have often hindered international financial dealings. This follows a pattern of institutional adoption, which we detailed in Visa and Baanx Launch USDC Stablecoin Payment Cards.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, emphasized the significance of acquiring the necessary license from the Dubai Financial Services Authority (DFSA) earlier this year. “This enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments,” Merrick noted, highlighting the strategic importance of the UAE as a major player in the global remittance market.
UAE: A Growing Crypto Powerhouse
While the UAE might currently rank 56th out of 151 countries for crypto adoption, according to Chainalysis’ 2024 report, the country is making significant strides to climb the ranks. It scored notably high in sectors like decentralized finance and stablecoin usage. Recent developments underscore this momentum. Abu Dhabi’s acceptance of Tether’s USDt as a virtual asset last December, and the recognition of Circle’s USDC and EURC stablecoins in 2025, showcase the country’s forward-thinking approach. As explored in our recent coverage of Ripple Offered $4B-$5B for Stablecoin Issuer Circle, the stablecoin market continues to be a focal point for major financial players.
Moreover, the UAE’s plans to introduce a digital dirham highlight its commitment to embracing digital currencies. This central bank digital currency could further integrate crypto into everyday financial transactions, making the nation a beacon for digital finance innovation.
Regulatory Landscape and Future Implications
However, with innovation comes regulation. Just as Ripple’s announcement was making waves, Dubai’s Virtual Assets Regulatory Authority (VARA) disclosed new oversight measures for crypto assets. These rules, particularly targeting margin trading and token distribution, are set to take effect by June 19, 2025. Companies now face a 30-day window to align with these new regulations, which could bring more stability and trust to the market—yet also pose challenges for rapid innovation.
The Ripple initiative in the UAE is a microcosm of a global trend. As nations grapple with the balance between fostering innovation and ensuring security, questions linger about the long-term sustainability of these digital transformations. Will regulatory frameworks stifle growth, or will they provide the structure needed for digital currencies to thrive globally?
As Ripple sets its sights on enhancing financial transactions in the UAE, the world watches closely. The region’s mix of regulatory foresight and technological adoption could offer a blueprint for others. Yet, as with any pioneering venture, the path forward is fraught with unknowns. How the UAE navigates these waters will likely define its role in the digital economy for years to come.
Source
This article is based on: Ripple launches cross-border blockchain payments in UAE
Further Reading
Deepen your understanding with these related articles:
- Mesh Adds Apple Pay to Let Shoppers Spend Crypto, Settle in Stablecoins
- Tether Finalizes Buying 70% of Adecoagro Stake, Securing Tokenization Ambition
- MultiBank, MAG, Mavryk ink world’s largest $3B RWA tokenization deal
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
