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UAE’s Zand Bank Expands Ripple Partnership – Supports RLUSD Custody and XRPL Integration

The digital bank adds custody support for Ripple’s stablecoin and explores issuing the AEDZ stablecoin on the XRP Ledger to enhance liquidity solutions.

XRP
RLUSD

Summary

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Terms & Concepts
  • RLUSD: A U.S. dollar-pegged stablecoin issued by Ripple, designed for enterprise use cases and cross-border payments.
  • XRP Ledger (XRPL): A decentralized, open-source blockchain technology known for its speed and low transaction costs, originally created by Ripple.
  • Custody Services: Financial services where an institution holds and secures assets, such as cryptocurrencies, on behalf of clients to prevent theft or loss.