Ripple partners with UAE-based Zand Bank to build stablecoin infrastructure linking RLUSD and AEDZ
Summary
- Ripple said it is expanding cooperation with Zand Bank to broaden the use of RLUSD.
- The two firms said they will pursue building a liquidity bridge between RLUSD and AEDZ and work on new issuance on the XRP Ledger.
- The report said the partnership reflects a push to expand stablecoins into infrastructure linking real-world financial payments and tokenized finance.
Ripple is expanding its collaboration with UAE-based Zand Bank, broadening the use cases for its U.S. dollar-pegged stablecoin, RLUSD.
According to crypto-focused outlet CoinfoMania on the 10th, Ripple has expanded its existing partnership with Zand Bank and entered a new phase of cooperation connecting RLUSD with Zand Bank’s dirham (AED)-linked stablecoin, “AEDZ.” The two companies plan to advance cooperation centered on custody services, building a liquidity bridge between stablecoins, and new issuance on the XRP Ledger.
The expanded collaboration is an extension of the payments partnership Ripple and Zand Bank signed last year. At the time, the two sides focused on speeding up settlement and reducing costs in blockchain-based cross-border payments. Zand Bank is a UAE digital bank providing services centered on the digital economy and tokenized finance.
Zand Bank launched AEDZ, a stablecoin pegged to the UAE dirham, late last year. AEDZ is a regulation-based stablecoin designed for use on public blockchains and is seen as one of the early cases in the Middle East.
Ripple’s RLUSD has also been expanding its footing under the UAE’s regulatory environment. Following approvals from regulators in Abu Dhabi and Dubai late last year, RLUSD has been used for payments, settlement and liquidity management under a restricted licensing framework. Ripple is positioning RLUSD as a fast, low-cost payment instrument.
Under the partnership, Zand Bank plans to support RLUSD within a regulatory-compliant digital-asset custody environment. The parties are also considering ways to improve corporates’ cross-currency settlement efficiency through direct liquidity linkage between RLUSD and AEDZ. In addition, discussions include a plan to issue AEDZ directly on the XRP Ledger.
The outlet said, “This cooperation illustrates a trend toward expanding stablecoins beyond a simple tool for crypto trading, into infrastructure that connects real-world financial payments and tokenized finance.”
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
