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Zand Bank

Growth Score40DXBi Rank60Heat Score100

Zand Bank PJSC

UAE's first fully licensed, all-digital bank for corporate, institutional and digital-asset clients

Founded 2022Private (PJSC - Public Joint Stock Company, not exchange-listed)Emaar Square, Building 6, Level 1, Downtown Dubai, UAE, Dubaizand.ae
Prospect profiledigital bankAI-powered bankingdigital asset custodyCBUAE licensedstablecoincorporate banking
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Media

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Zand and DWTC sign MOU on digital economy

Zand Newsroom

Zand achieves banking-first SOC 2 Type II attestation covering Web3

Zand Newsroom

Zand and Ripple strategic partnership on stablecoins

Zand Newsroom

Zand adopts XDC Network for blockchain-powered payments/custody

Zand Newsroom

Yuze and Zand strategic alliance for UAE SMEs

Zand Newsroom

Zand becomes first bank in the Middle East to achieve ISO 27001 and ISO 27701 for Web3

Zand Newsroom

UAE digital lender Zand plans expansion into Gulf and Africa within three years, CEO says

The National

UAE Central Bank Approves Nation's First Regulated AED Stablecoin by Zand

TechAfrica News

Zand launches AEDZ, UAE's first AED-backed stablecoin

Zand Newsroom

Zand and Mastercard strategic collaboration on cross-border payments

Zand Newsroom

Fitch rates Zand at investment grade BBB+, Outlook Stable

Zand Newsroom

Zand Bank announces strategic partnership with Paymentology

Zand Newsroom

Zand Bank collaborates with Alibaba Cloud and Ant Digital Technologies

Zand Newsroom

Zand Bank and Taurus sign strategic partnership

Zand Newsroom

Zand Bank partners with Infosys Finacle

Zand Newsroom

Zand Receives CBUAE Banking Licence

Zand Newsroom

Dubai digital bank Zand receives UAE Central Bank licence

The National

Zand Shareholders Complete Acquisition of Dubai Bank PJSC

Zand Newsroom

Overview

Zand Bank is a UAE-licensed, fully digital bank headquartered in Downtown Dubai, positioned as the country's first bank built from inception as a licensed digital bank rather than a retail app layered on an existing balance sheet. It received its full Central Bank of the UAE (CBUAE) banking licence in July 2022 and has since pivoted from retail ambitions toward corporate, institutional, SME, wealth and digital-asset banking, combining its CBUAE licence with a VARA authorisation for institutional digital-asset custody. In 2025 Zand received Fitch's BBB+ investment-grade rating and CBUAE approval to launch "Zand AED," described as the UAE's first regulated, multi-chain AED-backed stablecoin on public blockchains.
40

Growth Score

Steady

100

Heat Score

Trending up

Details

Operating Status
Active
Company Type
Private (PJSC - Public Joint Stock Company, not exchange-listed)
Headquarters
Emaar Square, Building 6, Level 1, Downtown Dubai, UAE
Founded
2022
Website
zand.ae
Founders
Olivier Crespin

Products & Services

Zand AED (AEDZ)

UAE's first regulated, multi-chain AED-backed stablecoin issued on public blockchains, 1:1 backed by segregated reserves.

ZandMint

Digital token/asset offering and minting service.

ZandPay

Payment solutions offering for corporate and digital-economy clients.

Digital Asset Custody

Institutional-grade regulated custody service for cryptocurrencies, tokenized securities and other digital assets.

Corporate & Institutional Banking

Core corporate banking services (accounts, lending, cash management) for businesses and institutions.

Wealth Management

Wealth management services for corporate/institutional and high-net-worth clients.

People

Technology

Tech stack

Infosys Finacle (cloud-native core banking platform)Microsoft Azure (cloud infrastructure hosting Finacle deployment)Taurus-PROTECT and Taurus-CAPITAL (digital asset custody/tokenization platforms)XDC Network (enterprise blockchain for custody/payments)XRP Ledger (blockchain for AEDZ stablecoin issuance, via Ripple partnership)Ant Digital Technologies mPaaS, ZOLOZ and SOFA (per Alibaba Cloud/Ant MOU)ISO 20022 messaging standard

Financials

Funding rounds

Projects

Partnership (MOU)Announced

Zand and DWTC sign MOU on digital economy

MOU with Dubai World Trade Centre free zone aimed at helping free-zone businesses grow via AI-powered banking, part of Dubai's digital economy initiative.

May 20, 2026

AcquisitionCompleted

Zand Shareholders Complete Acquisition of Dubai Bank PJSC

Zand's shareholders completed acquisition of a majority stake in Dubai Bank PJSC, the vehicle used to establish Zand as the UAE's first native digital bank ahead of receiving its own banking licence.

Dec 20, 2021

Regulatory milestone / ContractCompleted

Zand Receives CBUAE Banking Licence

Zand Bank PJSC received a full banking licence from the Central Bank of the UAE and onboarded its first corporate customers on 30 June 2022.

Jul 5, 2022

PartnershipAnnounced

Zand Bank partners with Infosys Finacle

Zand selected Infosys Finacle's cloud-native core banking platform, deployed on Microsoft Azure, to power its corporate banking operations with Open APIs and advanced analytics.

Apr 3, 2024

PartnershipAnnounced

Zand Bank and Taurus sign strategic partnership

Zand partnered with Swiss digital-asset technology provider Taurus SA to build custody, tokenization and blockchain-connectivity infrastructure using Taurus-PROTECT and Taurus-CAPITAL, deployed on-premise in the UAE.

Jul 2, 2024

Partnership (MOU)Announced

Zand Bank collaborates with Alibaba Cloud and Ant Digital Technologies

MOU to jointly explore generative AI, blockchain, real-world-asset tokenization and payment technologies (including Ant's mPaaS, ZOLOZ and SOFA products) to build Zand's AI Agent banking platform.

Nov 6, 2024

PartnershipAnnounced

Zand Bank announces strategic partnership with Paymentology

Referral partnership with global issuer-processor Paymentology to offer BIN-sponsorship, virtual IBANs and Client Money Accounts to UAE fintechs and startups.

Nov 12, 2024

PartnershipAnnounced

Zand and Mastercard strategic collaboration on cross-border payments

Collaboration leveraging Mastercard Move to offer bank deposits, wallet transfers and cash-pickup services across multiple markets.

Aug 14, 2025

Product LaunchCompleted

Zand launches AEDZ, UAE's first AED-backed stablecoin

Launch of AEDZ, described as the UAE's first regulated multi-chain AED-backed stablecoin on public blockchains, backed 1:1 by segregated reserves.

Nov 17, 2025

PartnershipAnnounced

Zand and Ripple strategic partnership on stablecoins

Collaboration integrating Ripple's RLUSD into Zand's digital-asset custody infrastructure, exploring liquidity pathways between AEDZ and RLUSD, and issuance of AEDZ on the XRP Ledger.

Feb 10, 2026

PartnershipAnnounced

Zand adopts XDC Network for blockchain-powered payments/custody

Integration of the XDC Network enterprise blockchain into Zand's institutional digital-asset custody service, including gold-trading tokenization with ComTech Gold, targeting ISO 20022 compliance.

Jan 12, 2026

PartnershipAnnounced

Yuze and Zand strategic alliance for UAE SMEs

Alliance to deliver digital business accounts, banking services provided by Zand Bank PJSC, for eligible SMEs and startups in the UAE via Yuze's AI-enabled digital business banking platform.

Jan 6, 2026

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