Ripple Debuts XRP-Based Cross-Border Payments in UAE
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On May 19, Ripple announced the launch of “Ripple Payments” in the United Arab Emirates (UAE). This service lets Zand Bank (the country’s first all-digital bank) and Dubai-based fintech Mamo send and settle cross-border transfers in seconds using fiat, XRP, and regulated stablecoins.
The debut follows Ripple’s March approval from the Dubai Financial Services Authority (DFSA), a licence that opened the door to serving one of the world’s busiest remittance corridors.
https://twitter.com/Ripple/status/1924345525622435881
Can Ripple’s Blockchain Pathway Outpace Traditional Payment Systems?
Ripple Payments unifies messaging, liquidity, and compliance on a single platform.
Banks route payments through XRP or stablecoins to avoid the pre-funded accounts that inflate fees and tie up capital in the traditional SWIFT model.
The service also posts near-instant settlement, full transaction transparency, and automatic sanctions screening, tackling the cost and delays that still plague legacy corridors.
The UAE already courts digital asset businesses, ranking 1st globally for crypto adoption, with strong stablecoin and DeFi activity.
Regulators are also standardizing the stablecoin rails Ripple will rely on.
Abu Dhabi accepted Tether’s USDT as a formal virtual asset in December 2024, giving licensed firms the green light to offer dollar-pegged services.
In February 2025, Dubai’s DFSA approved Circle’s U.S. Dollar Coin (USDC) and Euro Coin (EURC) as the first stablecoins under its crypto-token regime. This allows banks inside the Dubai International Financial Centre (DIFC) to integrate them directly into payments and treasury products.
By pairing regulated payment systems with a market embracing stablecoins and clear regulations, Ripple and its UAE partners aim to prove that the blockchain pathway can move mainstream money faster, cheaper, and with far more traceability than the systems they intend to replace.
Steering Stablecoin Growth Through Oversight and Technological Advancement
The cryptocurrency and digital assets embrace shows the Emirates’ welcoming stance.
Widespread adoption across the public and private sectors has helped the country grow its reputation as a global crypto hub.
Recently, the Dubai’s Department of Finance signed an MoU with Crypto.com at the Dubai Fintech Summit. This allows residents and businesses to pay government fees (licenses, court charges, and more) in stablecoins via Crypto.com wallets, which instantly convert tokens to AED.
This rollout furthers Dubai’s Cashless Strategy, aiming for 90% cash-free transactions by 2026.
Additionally, Abu Dhabi-based financial institutions revealed plans to introduce a central bank–regulated stablecoin pegged to the dirham. This move is expected to bolster the UAE’s digital infrastructure and cement its role as a global blockchain innovation hub.
Nevertheless, oversight is tightening alongside adoption.
On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) published version 2.0 of its rulebooks, raising collateral requirements and leverage limits for margin trading and clarifying token-distribution rules.
https://twitter.com/CryptoSavingExp/status/1924419494463836568
The new law gives licensed firms 30 days—until June 19—to update procedures, signalling that growth will run hand-in-hand with stricter risk controls.
