Taurus will also offer robust security solutions including cryptocurrencies, digital currencies and non-fungible tokens (NFTs)
With the objective of advancing digital banking in the UAE, Swiss cryptocurrency infrastructure platform Taurus has collaborated with Zand Bank. Within the regulatory framework of the United Arab Emirates, this partnership strives to boost Zand Bank's potentiality in tokenization, custody, and blockchain connectivity.
Headquartered in Dubai and known as the first digital native bank licensed by the Central Bank of the UAE (CBUAE), Zand Bank will utilize the infrastructure solutions of Taurus. These include, in accordance with UAE rules, issuing tokenized financial and physical assets across permissioned and permission-less blockchains. In addition to this, Taurus will also offer robust security solutions, including cryptocurrencies, digital currencies, and non-fungible tokens (NFTs). Taurus Managing Director Bashir Kajour expressed his interest in supporting Zand Bank to launch its digital legacy strategy in compliance with the regulatory standards. The partnership is part of the UAE’s efforts to improve its digital financial markets, with an emphasis on strict anti-money laundering (AML) and regulation of virtual asset service providers. Known for its partnerships with leading financial institutions around the world, including Swiss Arab Bank and Deutsche Bank, Taurus is further expanding its footprint in the Middle East with this new venture, following its recent union with Polygon blockchain in 2023.
This partnership between Taurus and Zand Bank marks a substantial step in the adoption of digital banking and blockchain in the UAE, assuring more opportunities in the progressing financial scene.
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