Zand, the UAE’s AI-powered digital bank, has announced a new partnership with Ripple, a blockchain-based digital payment company, to expand stablecoin-based financial services in the region. The collaboration will focus on real-world digital payment and liquidity solutions using AEDZ and RLUSD stablecoins across regulated blockchain infrastructure. On February 10, Zand and Ripple expanded their partnership to build new digital finance solutions using stablecoins and blockchain. Zand CEO Michael Chan said stablecoins, tokenization, and blockchain rails can reduce friction in financial systems as more services move on-chain.
The two companies are now focusing on connecting Zand’s UAE dirham-backed stablecoin (AEDZ) with Ripple’s US dollar-backed stablecoin RLUSD. Zand and Ripple are partnering to help advance and support the digital economy, with innovative solutions powered by the Zand AEDZ stablecoin and Ripple’s RLUSD. Zand is also working to issue AEDZ on the XRP Ledger, a blockchain known for fast and secure payments. Reece Merrick, Managing Director, Middle East and Africa, at Ripple, said the expanded partnership underscores the UAE’s pioneering digital economy.
AEDZ is fully backed 1:1 by UAE dirham reserves kept in safe and regulated accounts. The stablecoin also goes through smart contract audits and regular reserve checks. RLUSD is backed by US dollar deposits, short-term government bonds, and cash-like assets, with regular third-party reports to ensure transparency. This strong reserve-backed system is meant to build trust and encourage wider use by businesses and institutions.
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