Ripple obtains regulatory approval in Dubai and announces blockchain payment collaboration with Zand Bank and Mamo

ChainCatcher news, according to official information, Ripple announced today (May 19, 2025) that as the first institution to obtain a blockchain payment license from the Dubai Financial Services Authority (DFSA), it has partnered with Zand Bank and Mamo in the UAE to provide blockchain-driven cross-border payment solutions. This collaboration will enable round-the-clock fund flow, reducing payment settlement times to just a few minutes, significantly enhancing the efficiency of financial transactions in the UAE. Zand Bank also plans to launch an AED-backed stablecoin to further promote the development of the digital economy.