Archive · 20 May 2025
Ripple Launches Cross-Border XRP Payments in the UAE
Imagine sending money to another country.
Ripple is now helping people do this in the UAE using a type of digital money called XRP.
They've teamed up with two banks in the UAE.
This new system lets people make international money transfers faster and cheaper.
Ripple already has permission to work in Dubai, which is helping them to expand.
The system is able to cover most of the world's money exchange markets.
Ripple also tried to buy another company, Circle, which makes a different digital currency, but the offer was rejected.
Ripple partnered with Zand Bank and Mamo to enable cross-border crypto payments in the UAE.
The service utilizes XRP for international transactions.
Ripple obtained a DFSA license in March, enabling these partnerships.
The payments service covers over 90% of daily FX markets.
Ripple previously offered to acquire Circle for $5 billion, but was rejected.
- Who
- Ripple, Zand Bank, and Mamo
- What
- Launched cross-border crypto payments in the UAE using XRP.
- When
- Announced on May 19th.
- Where
- UAE
- Why
- To streamline international settlements with crypto.
- Partners
- Zand Bank, Mamo
- Service
- Cross-border crypto payments
- Coverage
- 90% of FX markets
- License
- DFSA
- Volume
- $70 billion processed