Dubai, UAE – Zand Bank PJSC (“Zand”), the UAE’s first digital bank, has announced a strategic partnership with Taurus SA (“Taurus”), a global leader in digital asset technology. This collaboration marks a significant milestone in Zand’s mission to revolutionize banking in the digital age.
Under the partnership, Zand will leverage Taurus’ integrated custody and tokenization solutions to expand its offerings in digital assets, including cryptocurrencies, tokenized securities, and digital currencies. Taurus, backed by institutional investors such as Credit Suisse, Deutsche Bank, Arab Bank Switzerland, Lombard Odier, and Pictet Group, raised $65 million in 2023 to further its leadership in digital asset infrastructure.
Innovative Digital Asset Solutions
Zand will deploy Taurus-PROTECT™, a state-of-the-art wallet solution, to provide secure storage for a variety of digital assets. The solution features advanced security controls, including hot and cold HSM environments, programmable rules, robotic process automation (RPA), and industry-leading transaction controls down to the smart contracts. With on-premise deployment in the UAE, Zand ensures the highest standards of security and compliance in banking.
In addition to custody solutions, Zand will utilize Taurus-CAPITAL™ to issue and service tokenized financial and real-world assets. This tokenization solution enables Zand to manage the lifecycle of any smart contract standard across both public and private blockchains, fully integrated with Taurus’ blockchain node infrastructure, Taurus-EXPLORER™. Taurus-EXPLORER™ provides a unified API and reliable broadcasting algorithms, ensuring secure interfacing with multiple blockchain networks.
Leadership and Vision
As the first bank in the UAE to embrace digital assets, Zand aims to bridge traditional finance (TradFi) and decentralized finance (DeFi), empowering corporate, institutional, and wealth clients to unlock new opportunities in the digital economy. Regulated by the Central Bank of the United Arab Emirates (CBUAE), Zand upholds the highest standards of financial stability and regulatory compliance.
Michael Chan, CEO of Zand, stated, “Our partnership with Taurus signifies a new benchmark for digital asset services, marking a new era of banking excellence. Security, versatility, and client-centric solutions converge to redefine the very essence of the digital economy.”
Bashir Kazour, Managing Director at Taurus, added, “It’s a privilege to assist Zand, a leader in digital banking, in launching their digital asset strategy in line with all applicable regulations. I look forward to supporting Zand in delivering landmark transactions in the area of tokenized assets.”
This multi-faceted partnership positions Zand at the forefront of digital asset innovation in the MENA region, offering the most secure and institutional-grade digital asset custody service.
For more information, please visit Zand Bank’s website and Taurus SA’s website.
