In an effort to promote stablecoin usage, Zand, the first digital bank in the UAE to be driven by blockchain and artificial intelligence, has extended its collaboration with Ripple. The partnership links Ripple’s RLUSD dollar-backed token on the XRP Ledger with Zand’s AEDZ stablecoin, which is backed by dirhams.
In order to provide almost instantaneous cross-border settlements, the effort focuses on regulated custody, issuance, and liquidity channels. Through hardware-level key protection, Ripple and Securosys’ collaboration improves custody security. The UAE is a desirable location for these blockchain ventures due to its clear regulations.
The coalition aims to combine blockchain efficiency with traditional banking oversight at a time when stablecoin markets are expected to grow rapidly globally. Both businesses claim that the move will help in integrating stablecoins into well-known financial institutions while maintaining stringent regulatory standards.
You need to login in order to Like
Leave a comment