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BULLISH 📈 : Ripple partners with UAE’s Zand to enhance digital economy
Ripple has announced a strategic partnership with UAE-based digital bank Zand to enhance the digital economy using stablecoins and blockchain.
- The partnership focuses on Zand's AED-backed stablecoin, AEDZ, and Ripple's USD stablecoin, RLUSD.
- Goals include developing infrastructure that bridges traditional finance with blockchain in a regulated setting.
- Ripple's Middle East and Africa MD, Reece Merrick, highlighted expanded cooperation in RLUSD support and liquidity solutions.
- The partnership will explore issuing AEDZ on the XRP Ledger (XRPL) with compliance and risk management measures.
- Zand CEO Michael Chan views this as a significant step for the digital asset ecosystem in the UAE.
Current XRP price: $1.40, experiencing losses of 26% over 14 days and 33% over 30 days, placing it 61% below its all-time high.