Zand, the UAE's first fully licensed AI-powered digital bank, has received approval from Dubai's Virtual Assets Regulatory Authority ($VARA) to offer digital asset and crypto custody services. This makes Zand the first UAE bank to provide institutional-grade custody services for cryptocurrencies under its banking license. The services will be available to corporate and institutional clients, with private keys protected onshore in UAE Hardware Security Modules (HSMs) to meet global security standards.

In addition, Zand plans to launch an AED-backed stablecoin, which will further integrate traditional finance (TradFi) and decentralized finance (DeFi). This initiative aims to contribute to the UAE’s ambition to become a global financial hub. The news follows the announcement of AE Coin, another AED-backed stablecoin, which is expected to transform the digital economy with its promise of a secure, low-cost, and efficient payment experience. AE Coin has received preliminary approval from the UAE Central Bank.#BinanceListsVelodrome #MicroStrategyJoinsNasdaq100