Ripple Expands Partnership with Zand Bank to Enhance RLUSD Stablecoin Adoption
- Ripple has extended its partnership with Zand Bank to boost the use of its RLUSD stablecoin.
- The collaboration aims to connect Ripple’s RLUSD and Zand’s AEDZ stablecoins, enhancing cross-border payment solutions.
- Michael Chan, CEO of Zand, expressed that this partnership could revolutionize digital asset engagement in the UAE.
- RLUSD was recognized as an Accepted Fiat Referenced Token by Abu Dhabi’s Financial Services Regulatory Authority in November last year.
- The U.S. CFTC recently included RLUSD as eligible collateral for regulated futures markets.
This partnership marks a significant step in integrating stablecoins into the UAE’s financial ecosystem, facilitating lower transaction costs and efficient settlements for cross-border payments.
With the recognition of RLUSD and its new status under CFTC regulations, Ripple is poised for further growth in the digital economy.(Source)
