Ripple announces partnership with Zand Bank and Mamo

According to official news, Ripple announced today (May 19, 2025) that as the first institution to receive a blockchain payment license from the Dubai Financial Services Authority (DFSA), it has partnered with the UAE's Zand Bank and Mamo to provide them with blockchain-driven cross-border payment solutions. This collaboration will enable 24/7 fund flow, reducing payment settlement time 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