Ripple Launches Cross-Border Payments in UAE: Fueling Crypto Adoption in a Global Hub

Ripple, the company behind cryptocurrency XRP (XRP), has launched cross-border blockchain payments in the United Arab Emirates (UAE). This move is expected to boost cryptocurrency adoption in the country that is known for its progressive stance on digital assets. The launch will be facilitated by Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company offering payment solutions for businesses. These entities will leverage Ripple Payments, a platform built to enable quick and efficient cross-border payments through a combination of stablecoins, cryptocurrencies, and fiat currencies. This is in line with Ripple’s March license by the Dubai Financial Services Authority (DFSA), empowering them to provide these services in one of the world’s biggest centers for global transactions.