Ripple, the creator of the Cryptocurrency XRP (XRP), launched payments of cross-border blockchain with the United Arab Emirates (water), a development that could stimulate the adoption of cryptocurrency in a receptive country with digital assets.
Zand Bank, the first entirely digital water, and Mamo, a Fintech company, which offers a digital payment platform for companies, will be the main users of the blockchain payment system, according to an advertising announcement on May 19.
Zand Bank and Mamo will use the “ripples” to facilitate cross -border blockchain payments.
Ripple Payments is a platform that combines stablescoins, cryptocurrency and fiat to allow payments and fast settlement times, a web3 characteristic that often lacks traditional financing payment systems. Ripple was authorized to offer cryptographic payments by the Dubai Financial Services Authority (DFSA) in March.
Reece Merrick, Director General of Ripple for the Middle East and Africa, said that the acquisition of this license “allows Ripple to better respond to the demand for solutions to the ineffectiveness of traditional cross-border payments, such as high costs, long-term settlement times and a lack of transparency, in one of the greatest cross-border payment costs in the world.
The water ranked 56 of the 151 countries for the adoption of cryptography
Chainalysis, a blockchain data platform, has classified the United Arab Emirates 56th in 151 countries for the adoption of cryptography, according to a 2024 report. The country obtained a high score in decentralized finance, to the use of stablescoin and altcoins.
The water made changes that could further increase its classification. Various Emirates, including Abu Dhabi and Dubai, tried to settle like cryptographic hubs.
In December 2024, the USDT of Tether (USDT) became a virtual asset accepted in Abu Dhabi. In 2025, the USDC of Circle (USDC) and EURC became the first stablecoins recognized under the crypto token of the Emirate.
The country also pursues plans to establish a digital dirham, which would be a digital currency of the central bank.
On May 19, the Dubai virtual asset regulatory authority (VARA) announced more monitoring of cryptographic asset activities, in particular margins trading and token distribution. There will be a 30 -day transition period, and the companies concerned will have to comply with the new rules by June 19.
