Ripple Strengthens UAE Presence with Zand Bank and Mamo Partnerships
- Ripple has partnered with Zand Bank and Mamo in the UAE, following its DFSA license acquisition in March.
- Zand Bank plans to use Ripple’s technology to enhance its payment systems and launch a stablecoin tied to the UAE dirham (AED).
- Mamo aims to improve cross-border payment speed and reliability using Ripple’s system.
- Ripple Payments supports over 90 global payout markets, processing more than $70 billion worldwide.
- XRP price has decreased by 3.5% to $2.31 amid a broader crypto market decline.
Ripple’s strategic partnerships with Zand Bank and Mamo aim to expand its influence in the Middle East’s cross-border payments sector, leveraging blockchain for efficient transactions.
Source (2.6)https://coingape.com/ripple-expands-in-uae-with-zand-bank-mamo-deals-after-dfsa-license/?rand=24432
