What to know:
- Ripple, that blockchain hopeful, has signed up two more UAE-based banks—Zand Bank and Mamo—because apparently, everyone loves a good crypto fantasy in the desert.
- And guess what? They managed to charm Dubai’s financial overlords into giving them a license. Because nothing says trust like a piece of paper from Dubai’s financial bigwigs!
- Ripple’s global empire now spreads across over 90 markets, processing over $70 billion—probably enough to buy Dubai itself—using XRP as a “bridge” currency. Because who doesn’t love a middleman?
Ripple, that enterprising firm of blockchain aficionados, has boldly stamped its mark in the UAE, signing on Zand Bank and Mamo. Now they’re expanding their so-called “cross-border payments” platform in this hot desert; perhaps to covertly fund their next ambitious spree.
All this cheer came after Ripple acquired a shiny license from Dubai’s Financial Services Authority, making them feel like official money magicians, managing payments for banks, fintechs, and crypto crusaders alike.
“Our DFSA license? It’s like a golden ticket,” said Reece Merrick, probably dreaming of Dubai’s future crypto palaces — a masterstroke to solve those pesky problems with traditional payments, as if that has ever been easy.
Zand Bank is thrilled to jump into the digital pond. “Soon, we will launch an AED-backed stablecoin,” chirped Chirag Sampat, as if that’s the miracle cure for every financial ailment.
Meanwhile, Imad Gharazeddine, the CEO of Mamo—because every company needs a cool name—claims Ripple’s services will provide “faster and more reliable” payments. As if traditional banks were ever that quick or trustworthy.
Ripple’s global network? Oh, it’s everywhere—over 90 markets, more than $70 billion processed, and a platform available from Dubai to Dallas, and even the Andes if you squint hard enough.
They move money in minutes—faster than a camel in a desert storm—and sometimes use their XRP token as a bridge-force, turning cash into crypto faster than you can say “bankruptcy.”
And, in the grand tradition of the market’s rollercoaster, XRP is down 3.5% today—probably because investors remembered it’s just another digital shiny thing in a shaky market. The CoinDesk 20 Index? Dipped 3.4% — because everyone loves a good downturn. 😂
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2025-05-19 11:18