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Reading: Zand Partners with Ripple to Boost UAE’s Digital Economy with Stablecoins
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COINTURK NEWS > Stablecoin > Zand Partners with Ripple to Boost UAE’s Digital Economy with Stablecoins
Stablecoin

Zand Partners with Ripple to Boost UAE’s Digital Economy with Stablecoins

In Brief

  • Zand and Ripple partner to enhance UAE's digital economy using stablecoins and blockchain.

  • Zand to support Ripple's RLUSD stablecoin, enhancing liquidity and financial services.

  • This collaboration aligns with UAE's goal to double its digital economy share by 2032.

Ömer Ergin
Ömer Ergin 2 months ago
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The digital bank Zand, operating out of the United Arab Emirates, has announced a new strategic partnership with blockchain company Ripple. Known for offering AI and blockchain-supported financial services, Zand intends to focus on the use of its local currency-pegged stablecoin AEDZ and the USD-backed RLUSD stablecoin as part of this partnership. The collaboration is seen as a significant step towards advancing the UAE’s digital economy.

Contents
Stablecoin-Driven Financial InnovationsInsights from Company ExecutivesAccelerating Digital Transformation in the UAE

Stablecoin-Driven Financial Innovations

As part of the collaboration, Zand plans to support Ripple’s RLUSD stablecoin in its regulated digital asset custody services. There are also considerations for direct liquidity solutions between AEDZ and RLUSD, with a goal to issue AEDZ on the public XRP Ledger. AEDZ stands out as the nation’s first multi-chain supported and dirham-backed stablecoin. It promises security, being fully supported by reserves held in accredited accounts and independently audited smart contracts. Meanwhile, RLUSD is backed by US dollar deposits, short-term US Treasury bonds, and other high-quality assets. Regular audits by third parties augment transparency and trust in these assets.

Insights from Company Executives

Michael Chan, CEO of Zand, highlighted the potential of the partnership, noting its transformative possibilities for the financial landscape in the UAE.

“The convergence of traditional finance with blockchain can unveil robust new use-cases and transform the way both public and private sectors engage with reliable blockchain solutions,” he remarked.

Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, emphasized that the collaboration aligns with the country’s digital economy aspirations. Merrick mentioned their focus on developing blockchain-based tools that enhance the security, transparency, and efficiency of financial products.

Accelerating Digital Transformation in the UAE

This partnership occurs as the UAE increasingly prioritizes the use of digital assets under its Digital Economy Strategy. Among its goals is to double the share of the digital economy in its non-oil GDP by 2032.

Expectations in the sector are that, driven by growing institutional interest and the proliferation of decentralized finance solutions, the global stablecoin market could reach $4 trillion in the coming years. Through this partnership with Ripple, the UAE aims to position itself as a leading country in this field.

In the meantime, Ripple has gained momentum for its European expansion plans by receiving preliminary approval for an Electronic Money Institute license from Luxembourg’s financial regulator.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 11 February, 2026 - 1:08 pm 11 February, 2026 - 1:08 pm
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