Ripple Expands Partnership with Zand Bank, Focuses on RLUSD and AEDZ

TLDR

• Ripple has expanded its partnership with Zand, a UAE-based bank, to focus on RLUSD and AEDZ stablecoins.
• The collaboration will support the issuance of AEDZ on the XRP Ledger, enhancing liquidity solutions for both stablecoins.
• Ripple aims to drive the growth of the UAE’s digital economy by supporting tokenization and blockchain technology.
• Zand’s AEDZ stablecoin will play a key role in Ripple’s strategy to strengthen financial services in the Middle East and Africa.
• Whale Alert tracked a massive XRP transfer between Binance and Kraken, valued at over $165 million, indicating liquidity rebalancing.

Ripple has confirmed an expanded collaboration with Zand, a UAE-based bank, focusing on Ripple’s RLUSD stablecoin and Zand’s AEDZ. The partnership will focus heavily on supporting RLUSD and the newly launched stablecoin, AEDZ, which will now be issued on the XRP Ledger. The initiative aims to enable direct liquidity solutions for both stablecoins, strengthening Ripple’s presence in the Middle East and Africa.

Ripple’s Role in UAE’s Digital Economy Expansion

Ripple has taken a further step in advancing its blockchain and payments solutions with Zand, a prominent UAE bank. The two companies plan to expand their partnership, focusing on Ripple’s RLUSD stablecoin. Reece Merrick, Ripple’s top executive for the Middle East and Africa, highlighted the importance of this move for Ripple’s efforts in the region.

Merrick emphasized that the partnership would be central to the development of Zand’s own stablecoin, AEDZ, as well. Ripple will support AEDZ and RLUSD through enhanced liquidity and blockchain technology, driving forward the UAE’s digital economy. With both coins integrated into Ripple’s systems, their use will grow, enabling better access to global financial markets.

Zand’s Stablecoin, AEDZ, Issued on XRP Ledger

Zand’s initiative to issue AEDZ on the XRP Ledger marks a milestone in the UAE’s digital financial sector. Ripple’s RLUSD will also see increased usage through this collaboration, further boosting the presence of blockchain-based solutions in the region. The integration of these two stablecoins on Ripple’s platform allows for efficient cross-border transactions, offering enhanced liquidity management.

The expanded partnership will support the tokenization of assets and introduce new use cases for both AEDZ and RLUSD. Zand’s official Twitter account confirmed that the collaboration aims to push the boundaries of traditional finance, driving innovation. Ripple’s involvement will ensure that both stablecoins have the infrastructure to operate smoothly in an evolving digital economy.

Whale Alert Spotlights Massive XRP Transfer

In related XRP news, Whale Alert recently tracked a large XRP transfer between Binance and Kraken exchanges. The transfer, amounting to 116,661,476 XRP valued at approximately $165.9 million, could indicate an over-the-counter (OTC) trade or liquidity rebalancing. This large movement comes after XRP’s price recovery from a notable drop the previous week.

Despite the recent volatility in the XRP market, such large transfers show the continued importance of XRP in global crypto markets.

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