Zand Bank PJSC (“Zand”), the UAE’s first fully licensed digital bank, has entered into a strategic partnership with Taurus SA (“Taurus”), a global leader in digital asset infrastructure for banks. This collaboration positions Zand at the forefront of digital asset innovation, covering custody, tokenization, and blockchain connectivity.
Under the agreement, Zand will leverage Taurus’ integrated custody and tokenization solutions to expand its offerings in cryptocurrencies, tokenized securities, NFTs, and digital currencies. Taurus, backed by institutional investors including Credit Suisse, Deutsche Bank, Arab Bank Switzerland, Lombard Odier, and Pictet Group, raised $65 million in 2023 to support its growth.
Institutional-grade custody and tokenization
Central to the partnership is the deployment of Taurus-PROTECT™, a state-of-the-art wallet solution that provides secure custody for cryptocurrencies, NFTs, tokenized securities, and digital currencies. With an on-premise deployment in the UAE, Zand meets the highest standards of security and regulatory compliance.
Taurus-PROTECT™ ensures robust protection through multi-layered security controls, including hot and cold HSM environments, programmable rules, robotic process automation (RPA), and detailed transaction monitoring down to the smart contract level, all in line with UAE regulations.
In addition, Zand will implement Taurus-CAPITAL™, a tokenization platform that allows the issuance and lifecycle management of both financial and real-world assets across public and private blockchains. The partnership is underpinned by Taurus-EXPLORER™, a secure blockchain node infrastructure audited to ISAE3402 Type II standards, providing a unified API for reliable blockchain interactions.
Driving innovation in the UAE’s digital economy
Zand Bank PJSC (“Zand”), the UAE’s first fully licensed digital bank, has entered into a strategic partnership with Taurus SA (“Taurus”), a global leader in digital asset infrastructure for banks. This collaboration positions Zand at the forefront of digital asset innovation, covering custody, tokenization, and blockchain connectivity.
Under the agreement, Zand will leverage Taurus’ integrated custody and tokenization solutions to expand its offerings in cryptocurrencies, tokenized securities, NFTs, and digital currencies. Taurus, backed by institutional investors including Credit Suisse, Deutsche Bank, Arab Bank Switzerland, Lombard Odier, and Pictet Group, raised $65 million in 2023 to support its growth.
Institutional-grade custody and tokenization
Central to the partnership is the deployment of Taurus-PROTECT™, a state-of-the-art wallet solution that provides secure custody for cryptocurrencies, NFTs, tokenized securities, and digital currencies. With an on-premise deployment in the UAE, Zand meets the highest standards of security and regulatory compliance.
Taurus-PROTECT™ ensures robust protection through multi-layered security controls, including hot and cold HSM environments, programmable rules, robotic process automation (RPA), and detailed transaction monitoring down to the smart contract level, all in line with UAE regulations.
In addition, Zand will implement Taurus-CAPITAL™, a tokenization platform that allows the issuance and lifecycle management of both financial and real-world assets across public and private blockchains. The partnership is underpinned by Taurus-EXPLORER™, a secure blockchain node infrastructure audited to ISAE3402 Type II standards, providing a unified API for reliable blockchain interactions.
Driving innovation in the UAE’s digital economy
As the first UAE bank embracing digital assets at scale, Zand aims to bridge traditional finance (TradFi) with decentralized finance (DeFi), delivering innovative solutions for corporate, institutional, and wealth clients. By integrating AI, blockchain, and digital asset services, Zand seeks to unlock new opportunities, drive sustainable growth, and empower clients in the evolving digital economy.
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, where security, versatility, and client-centric solutions converge to redefine the digital economy.”
Bashir Kazour, Managing Director at Taurus, added:
“It’s a privilege to assist Zand in launching their digital asset strategy fully aligned with regulatory standards. We look forward to supporting landmark transactions in tokenized assets.”
With this collaboration, Zand is set to offer the most secure, institutional-grade digital asset custody in the MENA region, solidifying its role as a pioneer in digital banking and crypto adoption.
As the first UAE bank embracing digital assets at scale, Zand aims to bridge traditional finance (TradFi) with decentralized finance (DeFi), delivering innovative solutions for corporate, institutional, and wealth clients. By integrating AI, blockchain, and digital asset services, Zand seeks to unlock new opportunities, drive sustainable growth, and empower clients in the evolving digital economy.
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, where security, versatility, and client-centric solutions converge to redefine the digital economy.”
Bashir Kazour, Managing Director at Taurus, added:
“It’s a privilege to assist Zand in launching their digital asset strategy fully aligned with regulatory standards. We look forward to supporting landmark transactions in tokenized assets.”
With this collaboration, Zand is set to offer the most secure, institutional-grade digital asset custody in the MENA region, solidifying its role as a pioneer in digital banking and crypto adoption.