Ripple Seizes Stablecoin Dominance in the Middle East, Forms a Payment Infrastructure Alliance in the UAE
Ripple Seizes Stablecoin Dominance in the Middle East, Forms a Payment Infrastructure Alliance in the UAE
Ripple has joined forces with a UAE digital bank to build an innovative financial bridge connecting RLUSD and the dirham-based stablecoin, strengthening its dominance in the Middle East market.
According to cryptocurrency media outlet The Crypto Basic on February 10 (local time), Ripple has expanded its existing partnership with UAE-based digital bank Zand Bank and entered a new phase of collaboration linking RLUSD with the dirham-backed stablecoin AEDZ. This initiative aims to integrate RLUSD with AEDZ, which Zand Bank launched late last year, to maximize efficiency in cross-currency payments for enterprises. Ripple plans to leverage the UAE’s advanced regulatory environment to expand the stablecoin ecosystem and innovate financial settlement infrastructure in the real economy.
The two companies plan to deepen cooperation centered on building liquidity bridges between digital asset custody services and stablecoins, as well as issuing new assets on the XRP Ledger. Zand Bank will support RLUSD within a compliant custodial environment and, together with Ripple, offer solutions that speed up cross-border payments for corporate clients while reducing costs. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized that “this approval is an important milestone enabling RLUSD to be used as loan collateral in the Middle East region.”
RLUSD recently strengthened its standing as a regulated financial asset by being added to the Green List of fiat-referenced tokens approved by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). As a result, financial institutions within ADGM can officially use RLUSD as loan collateral or a settlement asset. Jack McDonald, Senior Vice President of Stablecoins at Ripple, commented that “RLUSD has surpassed a market capitalization of $1 billion and is rapidly establishing itself as a dollar stablecoin favored by major institutions.”
RLUSD’s market capitalization has recently exceeded $1.2 billion, demonstrating strong growth momentum, with activity on the Ethereum network driving much of this expansion. Ripple CEO Brad Garlinghouse expressed confidence that RLUSD can compete effectively with established market leaders such as USDT and USDC. Ripple issues RLUSD under a limited purpose trust charter from the New York Department of Financial Services (NYDFS) and maintains 1:1 backing with cash and cash-equivalent assets, earning high marks for transparency.
The strengthened partnership between Ripple and Zand Bank is expected to serve as a catalyst for expanding stablecoins beyond simple transaction tools into core infrastructure connecting financial settlements and asset management in the real economy. The UAE’s clear regulatory framework is providing a foundation for Ripple to lead the spread of tokenized finance. Both parties are also considering issuing AEDZ directly on the XRP Ledger, further expanding the digital finance ecosystem.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on it. The content should be interpreted solely for informational purposes.*
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