Ripple Partners with Zand Bank and Mamo to Boost Cross-Border Payments in the UAE 🇦🇪
Ripple has partnered with Dubai-based financial institutions Zand Bank and Mamo to utilize its cross-border payment technology. This collaboration marks Ripple's significant expansion into the UAE, reflecting the region's growing adoption of blockchain for economic development.
Zand Bank aims to strengthen the UAE's digital payment capabilities by launching a stablecoin pegged to the UAE dirham. Mamo will also leverage Ripple's technology to enhance its service offerings, simplifying global payments.
Ripple's strategic alliances are supported by regulatory milestones, though ongoing legal challenges, such as a denied motion in a dispute with the SEC, impact XRP's market performance.
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