The UAE's first digital bank enters a strategic partnership with Taurus to provide custody, tokenization, and blockchain services.
Zand, an Emirati digital bank start-up, will become the first institution in the United Arab Emirates (UAE) to offer all aspects of virtual asset and crypto services, according to an announcement released Wednesday.
As part of that step, it has partnered with Taurus to provide digital asset infrastructure, ranging from custody and tokenization to blockchain connectivity. Taurus is backed by Credit Suisse, Deutsche Bank, Arab Bank Switzerland, Lombard Odier, and Pictet and it raised $63 million in 2023.
First Bank
Zand stated that it would provide crypto-currency, tokenized securities, and digital currency services as a result of the step.
«As the first bank in the UAE to embrace digital assets, Zand aims to revolutionize the finance world with innovation, AI, Blockchain technology and client-centric solutions that bridge TradFi and DeFi, empowering their UAE and global Corporate, Institution and Wealth clients to unlock infinite opportunities, foster sustainable growth, and drive positive impacts in the evolving digital economy,» the announcement indicated.
