Bridging Traditional and Decentralized Finance with Institutional-Grade Security.
Zand has launched the Digital Asset Custody services as a first fully licensed, AI-powered digital bank, and it is now the first bank in the UAE to provide such services under its banking license. This pioneering move was approved by VARA. It reflects that Zand is really at the forefront of the intersection of TradFi and DeFi.
PC: Zawya
This service is designed specifically for corporate and institutional clients with the utmost security measure using onshore UAE Hardware Security Modules to protect private keys. The HSMs comply with the highest security standards worldwide, which underscores the commitment to providing secure and reliable solutions for the management of fiat and digital assets.
Leadership in Milestone
Mohamed Alabbar, Chairman of Zand, said: “This approval from VARA is a milestone for Zand and the UAE’s digital economy. It reflects our commitment to bold innovation and sustainable growth. Our mission is to establish Zand as a cornerstone of the UAE’s evolving financial landscape, contributing to the nation’s ambition to be a global financial powerhouse.
Michael Chan, CEO of Zand, also echoed this statement, saying, “We would like to extend a heartfelt token of appreciation to VARA for their continued support of Zand. Our Digital Asset Custody service is a significant step in UAE banking. By providing institutional-grade security for digital assets, we are equipping our clients with the tools they need to thrive in the digital economy.” The upcoming launch of Zand’s AED-backed stablecoin will further enhance our ability to integrate TradFi and DeFi, reinforcing our leadership in this space.
Unmatched Security and Regulatory Standards
Operating under the Central Bank of the UAE and holding a digital assets custodian license from VARA, Zand ensures compliance with the strictest regulatory standards. The custody service incorporates advanced security measures, including robust risk management practices, continuous audits, and a dedicated team of cybersecurity experts. These safeguards guarantee the security and accessibility of clients’ assets, reflecting Zand’s dedication to trust and transparency.
The AI-infused infrastructure of Zand further increases the reliability and efficiency of its digital banking services and sets new standards in the financial industry. Combining banking experience with blockchain technology, Zand provides companies with a smooth and secure solution for navigating the growing digital economy.
A Leap Toward the Future of Finance
With the introduction of Digital Asset Custody services, Zand solidifies its role in shaping the future of finance in the UAE. The bank is bridging TradFi and DeFi while empowering corporate and institutional clients to hold their digital assets with full confidence, further advancing the UAE’s ambition to be a global financial hub.
