Ripple partners with major UAE banks to integrate XRP into payment infrastructure

Wave She announced a new partnership with Zand Bank based in UAE and Fintech Mamo to expand her payment service in the Middle East.

This is The latest strategic move of the company After approval of licenses from Dubai Office for Financial Services (DFSA).

Cooperation will allow Zand Bank and Mamo to integrate the blockchain infrastructure into their payment systems. This is expected to improve the speed of cross -border transactions, cost efficiency and transparency.

Ripple’s payment platform Now it serves more than 90 global markets, which gives it almost complete access to daily foreign exchange flows. The company is currently processing a volume of over $ 70 billion, reflecting its expanding role in global payments.

Meanwhile, Zand Bank is also developing Stablecoin supported by AED, which supports faster settlements and trouble -free transfers in the growing digital economy of the UAE.

Ripple CEO for the Middle East and Africa, Reece Merrick, said DFSA licenses seizes the ripple to deal with the main narrow points of payments in the region, such as high costs, delayed settlement and limited transparency.

He described the new partnership as evidence of the ripple of momentum, which he acquires in one of the largest cross -border payments in the world.

The UAE will stand as a crypt payments leader

The Middle East, especially the United Arab Emirates, shows a growing appetite for financial infrastructure driven by blockchain.

Ripple, who quoted his internal research, said that 64% of the financial decision -making workers in the region prefer speed as key drivers to accept digital assets in cross -border payments.

According to the company, this led to noticeable demand for solving payments from cryptoral companies and traditional financial institutions throughout the region.

Merrick emphasized the leading role of UAE in supporting crypto innovations through support regulations that firmly earn money from the blockchain potential to modernize traditional payments.

IMAD Gharazeddine, CEO and co -founder of Mamo, repeated this sentiment and noted that more companies would attract the regulatory regulatory environment.

He said:

“The UAE is on an incredible growth path, with more than a million businesses that would call it home by 2030.”

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