Latest news with #RipplePayments
Zawya
21-05-2025
- Business
- Zawya
Ripple builds on Dubai regulatory license to announce Zand Bank and Mamo as first blockchain-enabled payments clients in the UAE
Dubai – Ripple, the leading provider of digital asset infrastructure for financial institutions, today announced two new customers in the UAE utilizing Ripple Payments. Ripple Payments employs blockchain, digital assets, and a global network of payout partners to deliver fast, transparent, reliable cross-border payments and on/off ramps for banks, crypto companies, and fintechs worldwide. Since becoming the first blockchain-enabled payments provider to be licensed by the Dubai Financial Services Authority (DFSA), Ripple has established partnerships with Zand Bankand Mamo who will utilize Ripple's blockchain-enabled cross-border payments solution. This functionality, paired with the new DFSA license, enables Ripple to manage payments end-to-end on behalf of its customers, moving funds across the globe 24/7/365, and settling payments in a matter of minutes – reducing time and friction, and making the movement of value in and out of the UAE dramatically more efficient. 'Securing our DFSA license enables 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's largest cross-border payments hubs. Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business,' said Reece Merrick, Managing Director, Middle East and Africa, at Ripple. 'As the global cross-border payments market grows, the leadership demonstrated by authorities in the UAE to create a supportive environment for crypto innovation has positioned the nation and its native companies to benefit from the transformative power of blockchain technology to drive efficiency and innovation in payments." Ripple is seeing increasing demand for its payments solution across the Middle East from both crypto-native firms and traditional financial institutions. According to Ripple's 2025 New Value Report, 64% of Middle East and Africa (MEA) finance leaders see faster payments and settlement times as the biggest impetus for incorporating blockchain-based currencies into their cross-border payments flows. 'As a pioneering financial institution with a full-fledged banking license, Zand Bank is paving the way for a stronger digital economy by offering innovative financial products as well as AI and blockchain solutions alongside our institutional-grade digital asset custodial services,' commented Chirag Sampat, Head of Treasury and Markets at Zand Bank. 'Our collaboration with Ripple highlights our commitment to empowering global payment solutions through blockchain technology. Moreover, we are excited to soon launch an AED-backed stablecoin, designed to further enhance seamless and efficient transactions in the rapidly evolving digital economy.' 'The UAE is on an incredible growth path, with over a million businesses expected to call it home by 2030. At Mamo, we're proud to be at the forefront of this journey making global payments simpler and more accessible for everyone,' said Imad Gharazeddine, CEO and co-founder of Mamo. 'Our partnership with Ripple is a big step forward. It allows us to offer faster, more reliable cross-border payments for both businesses and consumers, helping companies across the UAE scale with confidence.' Ripple's simple, secure, compliant digital asset infrastructure means it is well-positioned to provide the core services that financial institutions need to tokenize, store, exchange and move digital assets. Ripple Payments has near-global coverage with 90+ payout markets representing more than 90% coverage of the daily FX markets, processing more than $70 billion in volume. Ripple's licensed payments solution is now available in Dubai, the U.S., Brazil, Mexico, Australia and Switzerland. Ripple has over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions, including its DFSA license, which was granted in March 2025. About Ripple Ripple is the leading provider of digital asset infrastructure for financial institutions—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple's solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple's payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world tokenizes, stores, exchanges, and moves value. About Zand Bank Licensed by the Central Bank of the UAE, Zand is an AI-powered bank founded to support the digital economy and bridge the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi). Our mission is to revolutionize the world of finance by leveraging AI, Blockchain Technology, and client-centric solutions to empower corporate, institutional, fintech, and wealth clients to thrive in the evolving digital economy. Our purpose is to empower innovators, ambitious leaders, and bold pioneers to shape the future of finance and unlock new opportunities for success. Zand combines the speed and flexibility of a fintech, with the security and strength of a fully licensed bank. Zand, the AI-powered bank for the digital economy. For more information, please visit About Mamo Mamo is a UAE-based fintech company that helps hundreds of businesses save time and costs by automating payment collection and corporate expense management through a single platform. In 2022, Mamo became the first fintech startup licensed by the DFSA with a Category 3C Providing Money Services license. For more information about Mamo and its services, visit
Fintech News ME
20-05-2025
- Business
- Fintech News ME
Ripple Secures UAE Partnerships with Zand Bank and Mamo for Blockchain Payments
Ripple has announced two new partnerships in the UAE for its Ripple Payments service. The cross-border payments platform, which uses blockchain technology and a network of global payout partners, will now be used by Zand Bank and Mamo. The development follows Ripple's recent approval by the Dubai Financial Services Authority (DFSA), making it the first blockchain-based payments firm to be licensed by the regulator. The DFSA license enables Ripple to offer end-to-end payment services in and out of the UAE, operating continuously and settling transactions within minutes. 'With the DFSA license, Ripple can address inefficiencies in traditional cross-border payments, including high fees, long settlement times, and limited transparency,' said Reece Merrick, Managing Director, Middle East and Africa at Ripple. 'Our partnerships with Zand Bank and Mamo reflect the momentum created by the licence. As the global cross-border payments market expands, the UAE's regulatory support for crypto innovation positions the country and its companies to benefit from blockchain technology.' Ripple noted that demand for its payments platform is growing across the Middle East, from both crypto-native firms and traditional financial institutions. The company's 2025 New Value Report found that 64% of financial leaders in the Middle East and Africa identified faster payment and settlement times as the main reason to incorporate blockchain-based currencies into cross-border transactions. Chirag Sampat, Head of Treasury and Markets at Zand Bank, said the institution is focused on supporting the UAE's digital economy through a combination of AI, blockchain services, and digital asset custody. 'Our collaboration with Ripple highlights our commitment to enabling global payments through blockchain. We also plan to launch an AED-backed stablecoin to facilitate more efficient digital transactions.' Ripple Payments currently supports more than 90 payout markets, covering over 90% of the global daily FX market and processing more than US$70 billion in volume. The service is available in Dubai, the United States, Brazil, Mexico, Australia, and Switzerland. Ripple holds over 60 regulatory licenses and registrations globally, including the DFSA license granted in March 2025.
Yahoo
13-05-2025
- Business
- Yahoo
XRP (Ripple) Investors Just Received Fantastic News From the Securities and Exchange Commission
XRP creator Ripple has faced scrutiny from the U.S. Securities and Exchange Commission since 2020. The SEC just agreed to settle its case against Ripple and reduced the proposed financial penalty significantly. This is great news, but it won't necessarily lead to sustainable upside for XRP. 10 stocks we like better than XRP › Many top cryptocurrencies are obtained through a process called mining, which involves using powerful computers to solve complex mathematical problems to help validate transactions on the blockchain. Miners play an important role in guaranteeing the security of the network, and they earn new coins for doing so. But the XRP (CRYPTO: XRP) cryptocurrency is different, because it's issued directly by Ripple, the company that created it. In other words, it's far from decentralized. This structure raised red flags at the U.S. Securities and Exchange Commission (SEC), and the agency ultimately decided to sue Ripple in 2020 alleging it was in breach of financial securities laws. The legal battle was ongoing until last week, when the SEC agreed to settle the case in line with President Donald Trump's promise to run a pro-crypto administration. With this huge burden lifted off of Ripple's shoulders, is XRP poised for significant upside? Sending money to banks in other countries can be a slow and expensive process. Not all of them use the same payment infrastructure, so they often need intermediaries to help them settle each transfer, which can add days to the process. Ripple developed the Ripple Payments network to solve that problem -- it allows banks to settle transactions between one another directly, which means they are basically instantaneous. Ripple created the XRP cryptocurrency to standardize each transaction and reduce costs. Banks in two different countries can incur substantial foreign exchange fees when they send payments in their domestic currencies, so they might choose to send XRP to one another instead. Each cross-border transfer incurs just 0.00001 XRP in fees, which comes out to a fraction of a cent. Therefore, unlike most other cryptocurrencies, XRP has a true use case in the real world -- but this was also the source of its regulatory troubles. XRP has a total supply of 100 billion tokens, but Ripple still controls 41.4 billion of them and issues them to institutions as needed to meet demand. Therefore, in its 2020 lawsuit, the SEC argued XRP should be classified as a financial security (like a stock or a bond), and thus subject to registration and disclosure requirements. Had the regulator won the case, it would have forced Ripple to operate under a strict set of rules, adding significant compliance costs to its business. In August 2024, a judge ruled that XRP might only be a security when it's issued to institutions, but not when it's used in transactions or traded on crypto exchanges. Ripple was hit with a fine of $125 million, but investors viewed the outcome as a win. The SEC appealed the decision, which threatened to tie the matter up in court for even longer, but that all changed after Trump took office. Trump nominated Paul Atkins to lead the SEC shortly after his election win. Atkins is a big supporter of the industry, having served as co-chairman of the Token Alliance (an advocacy organization), and also as an advisory board member of blockchain company Securitize. Atkins was sworn in on April 21 after his confirmation by the Senate, but the agency was already changing its approach toward the crypto industry in anticipation of his arrival. It initially paused or withdrew active legal cases against crypto exchanges like Binance and Coinbase, and investors speculated that Ripple's case could be next. The SEC decided to put its case against Ripple on hold in April, and the two parties entered settlement talks. Then on May 8, the regulator announced a reduction in Ripple's $125 million fine to just $50 million, and effectively extinguished the rest of the case. XRP has soared by 370% since Trump's election win last November, but it still hasn't reclaimed its record high from 2018. In fact, its momentum appears to have stalled, because the token is down more than 25% from its recent 52-week high. The continued growth of the Ripple Payments network would, in theory, boost demand for XRP and increase its value. However, banks don't have to use XRP -- they can still benefit from instant cross-border transfers within the Ripple Payments network even if they use fiat currencies. Therefore, the value of XRP is determined more by the sentiment of speculative investors rather than by organic demand. The resolution of the SEC's case against Ripple is certainly a big positive for its business, but it won't necessarily translate into sustainable upside for XRP. As a result, investors might want to exercise caution before investing in this speculative token. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $614,911!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $714,958!* Now, it's worth noting Stock Advisor's total average return is 907% — a market-crushing outperformance compared to 163% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Coinbase Global and XRP. The Motley Fool has a disclosure policy. XRP (Ripple) Investors Just Received Fantastic News From the Securities and Exchange Commission was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-04-2025
- Business
- Yahoo
XRP (Ripple) Investors Just Received More Great News From the Securities and Exchange Commission
Back in 2020, the U.S. Securities and Exchange Commission (SEC) sued a company called Ripple, alleging it was in breach of financial securities laws for the way it distributed its XRP (CRYPTO: XRP) cryptocurrency. The case weighed on the price of XRP for years, but the token has soared by 300% since President Donald Trump was elected last November. Simply put, the SEC plans to be much friendlier toward the cryptocurrency industry under the Trump administration. In fact, earlier this month, the regulator agreed to pause its case against Ripple with the intention of negotiating a settlement, which was great news for XRP investors. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » But there was even more good news announced earlier this week: The Senate officially confirmed President Trump's nominee to serve as chairman of the SEC, and he might be one of the most pro-crypto leaders the agency has ever seen. Transferring money across borders can be slow and expensive. Some banks use the international network run by SWIFT (the Society of Worldwide Interbank Financial Telecommunications), whereas others don't, meaning they often need intermediaries for every transaction, which can slow down the process. Ripple is trying to solve that problem with the Ripple Payments network. It's designed to connect international banks with one another directly no matter what existing infrastructure they use, paving the way for instant cross-border transfers. It created XRP to standardize those transactions, and it's very cheap to use -- a single cross-border transfer costs just 0.00001 XRP, which is a small fraction of one cent. Therefore, an American bank might send XRP to an Italian bank instead of sending U.S. dollars because it would bypass much higher foreign exchange fees in the process. This is where things got murky from a regulatory standpoint in 2020. Ripple controls around 41.6 billion XRP tokens out of the total supply of 100 billion and releases some each month to meet demand from institutions. This makes XRP very different from a decentralized cryptocurrency like Bitcoin (CRYPTO: BTC), which has a fixed supply that can't be altered by any company, person, or government. Since Ripple is an active issuer of XRP, the SEC claimed the token should be classified as a financial security (like a stock or a bond). And had the regulator prevailed in its lawsuit, Ripple would have been forced to operate under a very strict set of rules. It's no surprise XRP investors are glad the legal proceedings are now on hold, and since the SEC has resolved its other active cases against crypto giants like Binance and Coinbase, a full settlement is likely in the near future. Shortly after President Trump was elected, he nominated Paul Atkins to serve as chairman of the SEC. It takes time for the Senate to confirm all of a new president's nominations, so Atkins was only officially sworn in on Monday, April 21. Atkins has worked at the SEC in lower-ranking positions in the past, but as chairman, he will have a much greater influence over its agenda. Prior to his recent appointment, he served as the co-chairman of the Token Alliance, which is a crypto advocacy organization. He was also an advisory board member at Securitize, a company that helps tokenize real-world assets on the blockchain, making them investible for consumers and institutions. Simply put, he's a clear supporter of the crypto industry. Having a pro-crypto chairman of the SEC could benefit XRP in more ways than one. For instance, companies including Bitwise, Franklin Templeton, and Grayscale are seeking approval from the SEC to launch XRP exchange-traded funds (ETFs), which would give financial advisors and institutional investors a safe, regulated way to own the cryptocurrency. Bitcoin ETFs have attracted around $100 billion from investors, so they could certainly drive demand for XRP, which might lead to higher prices. Once Ripple's legal issues with the SEC are officially resolved, I wouldn't be surprised if those applications are quickly approved. Unlike most cryptocurrencies, XRP has a legitimate real-world use within the Ripple Payments network. However, banks don't have to use XRP to benefit from instant cross-border transactions -- they can also use fiat currency. That means the success of Ripple Payments won't necessarily translate into higher prices for XRP, so its value is heavily tied to the sentiment of speculative investors, as is the case with many other tokens, including Shiba Inu and Dogecoin. That might explain why the post-election rally in XRP failed to carry the token beyond its previous all-time high from way back in 2018. In fact, it's currently down 36% from its recent January peak, so its momentum appears to be fizzling out. Although the approval of ETFs could be a positive catalyst for XRP, the effects might only be temporary because it simply doesn't have enough concrete fundamentals to support its value. As a result, investors should probably exercise caution before piling into this speculative token. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $566,035!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $629,519!* Now, it's worth noting Stock Advisor's total average return is 829% — a market-crushing outperformance compared to 155% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 21, 2025 Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, and XRP. The Motley Fool has a disclosure policy. XRP (Ripple) Investors Just Received More Great News From the Securities and Exchange Commission was originally published by The Motley Fool
Yahoo
11-04-2025
- Business
- Yahoo
XRP (Ripple) Crashed Below $2. Buy the Dip, or Run for the Hills?
The XRP (CRYPTO: XRP) cryptocurrency was created by a company called Ripple in 2012. It was designed to standardize cross-border payments within the Ripple Payments network, which means it has a tangible real-world use case, unlike most cryptocurrencies. XRP soared by 235% in 2024, largely on the back of President Donald Trump's election win. He promised to make America the crypto capital of the world and create a friendlier regulatory environment, paving the way for significant potential value creation across the industry. But the gains in XRP have since faded. It's currently down more than 40% from its 52-week high, and it broke below $2 last week shortly after Trump announced sweeping tariffs on America's trading partners, which turned investor sentiment sharply negative toward all risk assets. Since digital goods and services aren't subjected to tariffs (as things stand today), should investors buy the dip on XRP, or is this a sign of worse things to come? It can take several days to settle transactions between banks in different countries, because not all of them use the same payment infrastructure. For example, some use the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network, whereas others don't. As a result, intermediaries are often needed, which creates settlement delays. Ripple Payments is designed to connect banks with one another regardless of what infrastructure they use, eliminating the need for intermediaries and letting them settle cross-border transactions almost instantly. XRP standardizes those transactions -- for example, a Japanese bank might send XRP to a Korean bank instead of sending Japanese Yen, bypassing foreign exchange fees and other costs in the process (each transaction costs just 0.00001 XRP, or a tiny fraction of one cent). As a result, XRP has a legitimate use case that could theoretically support its value over the long term. Back in 2020, the U.S. Securities and Exchange Commission (SEC) sued Ripple for the way it distributed XRP tokens. Since Ripple controls about 42 billion tokens out of the 100 billion in total supply, and releases them gradually to meet demand, the agency claimed XRP should be classified as a financial security like a stock or a bond. Had the SEC won the lawsuit, it would have changed the way Ripple did business by forcing the company to operate under a strict set of rules and regulations. But in August 2024, a judge ruled that XRP might only be a security in some circumstances, like when it's issued to institutional investors, but not when it's used in transactions or traded on crypto exchanges. Ripple was hit with a fine of $125 million, but this outcome was mostly viewed as a win. The SEC proceeded to appeal the verdict, which threatened to tie the parties up in court yet again. That's why XRP investors viewed Trump's election win so positively -- they felt the SEC would be less hostile to the crypto industry overall on his watch, and it turns out they were right. Under Trump's acting SEC chairman, Mark Uyeda, the agency agreed to a settlement with Ripple, which included a reduced fine of $50 million. The SEC has also paused or withdrawn active lawsuits against crypto giants like Binance and Coinbase Global recently, further highlighting the enormous shift in the way the regulator views the industry. Even though XRP can save banks quite a bit of money on transaction costs, they don't actually need to use it. They can still benefit from instant settlements through Ripple Payments even if they use fiat currencies. In other words, the success of the payments network won't necessarily translate into higher prices for XRP. That might be why XRP failed to surpass its all-time high from 2018 during its post-election rally last year. Despite a softer regulatory environment clearly benefiting Ripple, it appears XRP's price movements are mostly determined by speculative investors. As I mentioned at the top, XRP is currently down more than 40% from its recent 52-week high. After its last major rally in 2018, which culminated in its record-high price of $3.40, the token declined by more than 90%. That same outcome might be in motion right now, so I wouldn't buy XRP here. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $469,399!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $590,231!* Now, it's worth noting Stock Advisor's total average return is 731% — a market-crushing outperformance compared to 146% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 5, 2025 Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Coinbase Global and XRP. The Motley Fool has a disclosure policy. XRP (Ripple) Crashed Below $2. Buy the Dip, or Run for the Hills? was originally published by The Motley Fool Sign in to access your portfolio
