Ripple $2.34Officially implemented the new Blockchain -based international payment platform in the United Arab Emirates (UAE). Ripple’s move stands out as part of the region’s effort to stand out in the field of digital assets. The company aims to make it possible to make instant trans -border payments in the region by cooperating with Zand Bank and Fintech platform Mamo, the first completely digital bank of the country.
A new crypto -oriented period in UAE
With the introduction of the platform, both Zand Bank and Mamo will be able to bring together nominal currencies, fixed crypto assets and digital assets in local and international transactions thanks to Ripple’s infrastructure. Thanks to the new payment solution, institutions and individual users will have the opportunity to perform faster and more reliable international transfer transactions.
Mamo CEO and founding partner Imad Gharazydine stated that this partnership is an important step in cross -border payments for companies and consumers in the UAE:
The partnership with Ripple allows us to offer faster and more reliable cross -border payments; In this way, the companies in the UAE can be safely scale.
Regulatory approval and expansion in the region
Ripple announced in March that it received regulatory approval from Dubai Financial Services Authority (DFSA). With this license, the company was entitled to provide payment services based on digital assets in the region. The bachelor allows Ripple to develop rapid and transparent alternatives to traditional cross -border payment systems.
Ripple’s Middle East and African General Manager Reece Merrick said that UAE is one of the largest cross -border payment centers on a global scale:
The receipt of this license enables us to better meet the demand for solutions that will eliminate inefficiency in traditional border payment systems.
International and regional crypto initiatives
Ripple invests in Blockchain projects not only in the UAE, but also in different countries such as Colombia. With a new program called Ripple Impact, the company aims to make buyers more easily accessible to information by following the supply chain processes in the agricultural sector. This strategy is seen as part of the company’s policy of diversifying crypto -based initiatives around the world.
In general, the UAE continues to create ambitious plans for crypto assets. Dubai launched an trial platform for digitalizing securities. In this platform, crypto assets and fixed crypto assets were excluded. In Abu Dhabi, a new Blockchain Projects Fund was established with more than $ 150 million capital.
The innovative payment platform initiated by Ripple in the UAE offers an alternative solution to the slowness and transparency of traditional financial systems. The company’s initiatives in the region can be considered as examples of technological innovations in international money transfers and progress in crypto. Ripple’s financial institutions cooperate with, while the users allow users to trader through a single system, while the company’s approval from regulatory institutions increases the reliability in the sector. Ripple’s move comes to the forefront as an indicator of the importance of UAE to financial technology and digital assets and its place in global competition.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
