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UAE’s neobank Zand Bank teams up with Taurus to offer crypto services

uaes-neobank-zand-bank-teams-up-with-taurus-to-offer-crypto-services
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UAE’s neobank Zand Bank teams up with Taurus to offer crypto services

Duba-based digital bank Zand has signed a strategic partnership with Swiss crypto management platform Taurus to offer digital asset services.

Swiss crypto management firm Taurus is now a “strategic partner” for Dubai-based digital bank Zand Bank as the financial lender wants to expand its crypto offerings and services tied to tokenized securities.

Zand, licensed and regulated by the central bank of the UAE, said in a press release sent to crypto.news it will rely on Taurus’ crypto wallet services, both hot and cold, to offer custodian services for crypto, non-fungible tokens (NFTs), and digital currencies. Zand will also leverage Taurus’ products to issue and perform asset servicing “of any type of tokenized financial and real-world assets.”

“Zand will be able to deploy and manage the lifecycle of any smart contract standard across both public and private blockchains,” the press release reads.

Zand Bank CEO Michael Chan highlighted that the partnership represents a big advancement in the bank’s efforts to establish a “new benchmark” for digital asset services, aiming to expand its crypto offerings to customers.

For Taurus, the latest partnership comes just a week after the FINMA-regulated crypto management platform expanded its crypto offerings, adding to its list of supported networks Stellar. Founded in 2018 by Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder, and Jean-Philippe Aumasson, Taurus secured $65 million from institutional investors such as Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and others, according to data from PitchBook.