Latest news with #ZandBank
South China Morning Post
14-06-2025
- Business
- South China Morning Post
Supporting role: how InvestHK is driving Hong Kong firms' global growth
On May 16, just as US President Donald Trump wrapped up his whirlwind Gulf tour with over US$2 trillion in deals, a little-known Hong Kong fintech firm beat global rivals to bag a contract with a United Arab Emirates (UAE) bank. Advertisement Evident Group, operator of a digital investment platform for alternative assets and licensed by the Securities and Futures Commission , formed a partnership with Zand Bank, the UAE's first fully licensed digital bank. The collaboration will provide the Dubai-based bank's clients with investment opportunities through Evident's tokenisation technology and infrastructure. The partnership was made possible thanks to the efforts of InvestHK . And Evident's success exemplifies the investment promotion agency's new mission. After a quarter-century dedicated to attracting global investment to Hong Kong, InvestHK is transforming into a business development agency that leverages the city's dual role as both a 'superconnector' and 'super value-adder' to help companies succeed. 'We must now help them take the next step in their journey to be successful,' said Alpha Lau Hai-suen, the director general of InvestHK. 'Whether they are from China or from Asia or elsewhere, once they open in Hong Kong, we see them as a Hong Kong company, so we will help them.' (From left) King Leung, global head of financial services, fintech and sustainability at InvestHK; Victor Yim, head of fintech at Cyberport Hong Kong; Florian Spiegl, founder and CEO of Evident Group; Ronald Fok, head of wealth and asset management at Zand Bank; Michael Chan, CEO of Zand Bank, and Parag Gupta, COO of Zand Bank. Photo: Handout This strategic shift responds to evolving challenges. InvestHK was established in 2000 to retain foreign investment amid rising competition. A pivotal moment came in 2001 when China joined the World Trade Organization, prompting many firms to bypass Hong Kong for direct mainland access. But now companies want to expand, taking advantage of Hong Kong's credibility and regulations. Advertisement Evident's founder Florian Spiegl appreciated InvestHK's role in bringing the partnership with Zand to fruition. He said this was only possible after InvestHK arranged an informal meeting with Zand's CEO, Michael Chan, which gave him an opportunity to share his vision. This, in turn, helped speed things up.
Yahoo
06-06-2025
- Business
- Yahoo
XRP vs. Bitcoin: Which Wins During Trump's Tariff War?
Tariff headlines may hammer Bitcoin in the short term, but they won't in the long term. XRP could gain in relevance as new trade routes demand faster cross-border liquidity. We haven't heard the last word on tariff policy just yet. 10 stocks we like better than Bitcoin › Farmers once watched the sky for storm fronts, and today, investors track the president's unpredictable tariff tweets. In early April, President Donald Trump slapped a blanket 10% levy on all imports, with even steeper surcharges for a handful of unlucky trading partners. Gold promptly ripped to record prices as investors flocked to safe assets. The crypto market's response has been a bit harder to read. Bitcoin (CRYPTO: BTC) shed 2.5% the morning Trump floated a 50% E.U. tariff. Meanwhile, XRP (CRYPTO: XRP) currently hugs $2.20 after a quiet month. Two assets, two very different narratives, and one messy set of tariff policies that seem to keep changing. Which asset looks sturdier right now? Let's dive in and figure it out. Gold's 21% climb this year so far underscores a simple idea. When policy risk jumps, capital chases scarcity. Bitcoin sells that same scarcity story as part of the core of its investment thesis. Only 512 new coins are mined daily, and the crypto's price is up by 11% this year so far. Still, tariffs sap global liquidity via higher input costs and slower trade. That tilts short-term flows toward cash, not volatile assets. Bitcoin's move since Trump's April decree shows its perceived safety status remains largely unproven and conditional on risk appetite. Assuming the White House follows through with more sector-specific tariffs as the president keeps claiming, Bitcoin could experience doldrums until the ongoing uncertainty passes. Over the longer haul, though, its margin of safety is driven by supply, not headlines. If broad tariffs weaken the dollar, a non-fiat-currency store of value with deep liquidity may absorb the same inflation hedge inflows that gold currently enjoys. That edge would be structural and long-lasting, if it happens. Bitcoin may win the narrative war over the long haul, but XRP is quietly winning contracts that increase its value today. Ripple, which issues XRP, announced on May 19 that it had expanded the chain's network to include Zand Bank and a fintech called Mamo, both of which are based in the U.A.E. Tariffs reroute supply chains, creating new bilateral corridors across which money needs to flow smoothly. It's easier for that to happen with solutions that natively comply with local regulations. On that note, XRP's relatively new and built-in account-freeze, blacklist, and trustline features let banks satisfy know-your-customer (KYC) and anti-money laundering (AML) rules without requiring the patchwork of fixes that other blockchains might. If tariff policy turbulence endures, XRP's cross-border payment volume should grow even if the overall volume of trade shrinks, because companies can fragment production to dodge duties, and there's always an incentive to cut costs. XRP's niche, cheaply settling money transfers across borders, could see persistent throughput gains. Yet investors must recall that these flows translate into modest net buying of XRP for liquidity, not necessarily long-term locking as with Bitcoin purchased for holding. Which asset fares better depends on your investing timetable and risk tolerance. Bitcoin's upside rests on scarcity, which isn't going anywhere regardless of tariffs (or the lack thereof). It's the more conservative choice. Therefore, long-term oriented investors who want a digital alternative to gold may prefer Bitcoin's proven scarcity and growing status as an investment that institutions want to hold. A slowdown in the global economy can hit Bitcoin too, but it's hard to envision pretty much anything short of a total collapse bringing it to a halt. XRP offers a different risk curve. XRP is the riskier and more volatile investment, but it likely has a better chance of growing faster over the next year or perhaps even longer due to its actual utility. Its utility as a payment processor and money transfer platform means that demand for the coin rises when trade friction rises, but it isn't scarce at all. More supply is unlocked from escrow each month. Meanwhile, any setback in Ripple's regulatory diplomacy could freeze adoption overnight. No outcome is guaranteed here. It might be a good move to buy both coins, provided you're willing to hold them. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin 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 $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% 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 June 2, 2025 Alex Carchidi has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and XRP. The Motley Fool has a disclosure policy. XRP vs. Bitcoin: Which Wins During Trump's Tariff War? was originally published by The Motley Fool Sign in to access your portfolio
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
Crypto Insight
20-05-2025
- Business
- Crypto Insight
Ripple launches cross-border blockchain payments in UAE
Ripple, the creator of cryptocurrency 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. Ripple was licensed to offer crypto payments by the Dubai Financial Services Authority (DFSA) in March. Reece Merrick, Ripple's managing director for the Middle East and Africa, said acquiring this 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.' UAE ranked 56 out of 151 countries for crypto adoption Chainalysis, a blockchain data platform, ranked the United Arab Emirates 56th out of 151 countries for crypto adoption, according to a 2024 report. The country scored high in decentralized finance, stablecoin use, and altcoins. The UAE has made some changes that may further increase its ranking. Various emirates, including Abu Dhabi and Dubai, have attempted to establish themselves as crypto hubs. In December 2024, Tether's USDt became an accepted virtual asset in Abu Dhabi. In 2025, Circle's USDC and EURC became the first stablecoins recognized under the emirate's crypto token regime. The country is also continuing plans to establish a digital dirham, which would be a central bank digital currency. On May 19, Dubai's Virtual Assets Regulatory Authority (VARA) announced more oversight for crypto asset activities, specifically margin trading and token distribution. There will be a 30-day transition period, and affected companies will be expected to comply with the new rules by June 19. Source:
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.
