Zand Revolutionizes UAE Banking with Institutional-Grade Digital Asset Custody

Zand Bank has launched digital asset custody services, becoming what it describes as the first fully licensed AI-powered digital bank in the UAE to offer institutional-grade cryptocurrency and digital asset safeguarding.

The custody service enables institutional and corporate clients to securely store digital assets under the regulatory oversight of the Central Bank of the UAE. Zand said the service meets institutional security standards, including multi-signature authorisation, cold storage, and comprehensive audit capabilities.

The launch follows Zand's earlier partnership with Swiss digital asset infrastructure provider Taurus, which provides the technical platform for custody operations. The bank has been building toward this launch through a series of partnerships with digital asset technology providers, including its collaboration with Alibaba Cloud and Ant Digital Technologies.

Zand's positioning as an AI-powered digital bank with digital asset capabilities reflects its strategy of combining multiple technology frontiers into a single banking platform. The bank has been assembling technology partnerships that span AI, blockchain, and cloud computing to differentiate itself in the UAE's competitive digital banking market.

The UAE has established itself as one of the most progressive regulatory environments for digital assets globally, with the Dubai Virtual Assets Regulatory Authority (VARA) and the Abu Dhabi Global Market both creating licensing frameworks for digital asset businesses. Zand's custody service aligns with this regulatory direction.

The launch is expected to attract institutional clients that have been seeking regulated, bank-grade custody solutions for their digital asset holdings in the UAE market.