Zand, a UAE digital bank, has formed a strategic partnership with Ripple to advance stablecoins and blockchain technology in the region. The agreement covers Zand’s AEDZ stablecoin and Ripple’s RLUSD, including custody support and liquidity solutions, and includes plans to issue AEDZ on the XRP Ledger. AEDZ is described as the UAE’s first regulated, multi-chain stablecoin fully backed by dirham reserves.
The collaboration aligns with the UAE’s objective to double the digital economy’s contribution by 2032. The partners will explore integrating RLUSD into Zand’s regulated custody services and pursuing direct liquidity arrangements between AEDZ and RLUSD, with AEDZ set to launch on the XRP Ledger.
Michael Chan, CEO of Zand, stated that leveraging stablecoins and tokenization technologies can unlock new use cases for bringing traditional finance on-chain. This initiative supports the UAE’s broader digital economy strategy and could expand cross-stablecoin liquidity and XRP Ledger-based issuance in the region.
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