{"id":20802,"date":"2025-05-19T17:55:05","date_gmt":"2025-05-19T17:55:05","guid":{"rendered":"https:\/\/gold.creditcard\/ripple-launches-cross-border-blockchain-payments-in-uae\/"},"modified":"2025-05-19T17:55:05","modified_gmt":"2025-05-19T17:55:05","slug":"ripple-launches-cross-border-blockchain-payments-in-uae","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/ripple-launches-cross-border-blockchain-payments-in-uae\/","title":{"rendered":"Ripple launches cross-border blockchain payments in UAE"},"content":{"rendered":"

Ripple, the creator of cryptocurrency XRP (XRP<\/a>), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets.<\/p>\n

Zand Bank, the UAE\u2019s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be the principal users of the blockchain payments system, according to a May 19 Ripple announcement<\/a>.<\/p>\n

Zand Bank and Mamo will use \u201cRipple Payments\u201d to facilitate cross-border blockchain payments. <\/p>\n

Ripple Payments is a platform that combines stablecoins, cryptocurrency, and fiat to enable payments and quick settlement times, a feature of Web3 that cross-border traditional finance payment systems often lack. Ripple was licensed to offer crypto payments by the Dubai Financial Services <\/a>Authority (DFSA) in March.<\/p>\n

Reece Merrick, Ripple\u2019s managing director for the Middle East and Africa, said acquiring this license \u201cenables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world\u2019s largest cross-border payments hubs.\u201d<\/p>\n

Related: <\/strong><\/em>Ripple, Chipper Cash partner for faster and cheaper African remittances<\/strong><\/em><\/a><\/p>\n

UAE ranked 56 out of 151 countries for crypto adoption<\/h2>\n

Chainalysis, a blockchain data platform, ranked the United Arab Emirates 56th out of 151 countries for crypto adoption, according<\/a> to a 2024 report. The country scored high in decentralized finance, stablecoin use, and altcoins.<\/p>\n

The UAE has made some changes that may further increase its ranking. Various emirates, including Abu Dhabi and Dubai, have attempted to establish themselves as crypto hubs.<\/p>\n

In December 2024, Tether\u2019s USDt (USDT<\/a>) became an accepted virtual asset in Abu Dhabi<\/a>. In 2025, Circle\u2019s USDC (USDC<\/a>) and EURC became the first stablecoins recognized<\/a> under the emirate\u2019s crypto token regime. <\/p>\n

The country is also continuing plans to establish a digital dirham<\/a>, which would be a central bank digital currency.<\/p>\n

On May 19, Dubai\u2019s Virtual Assets Regulatory Authority (VARA) announced more oversight for crypto asset activities<\/a>, specifically margin trading and token distribution. There will be a 30-day transition period, and affected companies will be expected to comply with the new rules by June 19.\u00a0<\/p>\n

Magazine: <\/strong><\/em>Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victims<\/strong><\/em><\/a><\/p>","protected":false},"excerpt":{"rendered":"

Ripple, the creator of cryptocurrency XRP (XRP), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets. Zand Bank, the UAE\u2019s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be […]<\/p>","protected":false},"author":0,"featured_media":20803,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-20802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=20802"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20802\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/20803"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=20802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=20802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=20802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}