On stage at the MESA Forum with @HSBC, @BlackRock, @Mashreq, and @RAKBANK, discussing stablecoins, tokenized deposits, and tokenized MMFs. We started with a competition framing, but landed somewhere else! They aren't rivals, they have 3 distinct jobs: 🟢 Stablecoins: The always-on layer moving value between institutions without existing relationships (why $RLUSD was built not to replace bank money, but to let it travel). 🟢 Tokenized Deposits: Keep bank money inside the existing perimeter, ideal for known counterparties. 🟢 Tokenized MMFs: Treasury yield & collateral, less of a payment vehicle. The real question for the GCC isn't which wins! It's how well they connect. The UAE isn't debating if it’s open for business; it's actively building. Excited to keep leaning in with @Ripple 🇦🇪