Ripple launches cross-border blockchain payments in UAE

Ripple, the creator of cryptocurrency XRP (XRP), launched cross-border blockchain payments in the United Arab Emirates (UAE), a development that could spur the adoption of cryptocurrency in a country receptive to digital assets. Zand Bank, the UAE’s first all-digital bank, and Mamo, a fintech company that offers a digital payment platform for businesses, will be the principal users of the blockchain payments system, according to a May 19 Ripple announcement. Zand Bank and Mamo will use “Ripple Payments” to facilitate cross-border blockchain payments. Ripple Payments is a platform that combines stablecoins, cryptocurrency, and fiat to enable payments and quick settlement times, a feature of Web3 that cross-border traditional finance payment systems often lack source: https://cointelegraph.com/news/ripple-launches-cross-border-blockchain-payments-uae?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound