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.
Meanwhile, 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. The two companies are now focusing on connecting Zand’s UAE dirham-backed stablecoin (AEDZ) with Ripple’s US dollar-backed stablecoin (RLUSD).
This integration aims to make cross-border payments faster, cheaper, and more transparent for businesses in the UAE and nearby regions.
As part of the plan, RLUSD will be supported on Zand’s regulated digital asset platform. Both firms are also exploring direct liquidity links between AEDZ and RLUSD to allow smoother transfers between AED and USD.
Zand is also working to issue AEDZ on the XRP Ledger, a blockchain known for fast and secure payments.
Zand confirmed that 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.
Zand CEO Michael Chan, CEO said stablecoins, tokenization, and blockchain rails can reduce friction in financial systems as more services move on-chain. He noted the partnership supports wider use of trusted digital finance tools across government and business sectors.
“We believe that leveraging stablecoins, blockchain technology, and tokenization can unlock powerful new use cases as traditional finance moves on-chain.”
However, Reece Merrick, Managing Director, Middle East and Africa, at Ripple, said, “Our expanded partnership with Zand underscores our commitment to the UAE’s pioneering digital economy.
Zand and Ripple are working together to expand stablecoin-based payments using AEDZ and RLUSD across regulated blockchain systems in the UAE.
AEDZ is a UAE dirham-backed stablecoin by Zand, while RLUSD is Ripple’s US dollar-backed stablecoin designed for secure, compliant payments.
By linking AEDZ and RLUSD, businesses can move money between AED and USD faster, with lower costs and better transparency than traditional rails.
The XRP Ledger enables fast, low-cost, and secure transactions, making it suitable for issuing stablecoins like AEDZ at enterprise scale.
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