Zand Bank, the UAE’s leading digital financial institution, has announced a strategic partnership with Klickl International, a Web3 open finance platform, to advance innovation in the digital finance space.
This collaboration will enable Klickl to leverage Zand’s cutting-edge banking solutions and infrastructure, aligning with the growing demands of the Web3 ecosystem.
Revolutionising Digital Finance
The partnership follows Zand Bank’s milestone achievement of becoming the first UAE bank to offer digital asset custody services, a move approved by the Virtual Asset Regulatory Authority (VARA).
In addition, Zand is set to launch a UAE dirham-backed stablecoin, further bridging the gap between traditional finance (TradFi) and decentralised finance (DeFi). This innovation underscores Zand’s commitment to reinforcing its position as a leader in the digital assets sector.
Strategic Alignment for Growth
Klickl International, established in the UAE in 2017, will benefit from Zand’s advanced banking infrastructure to optimise financial management and enhance business operations within the Web3 environment.
Michael Chan, CEO of Zand, highlighted the significance of the partnership:
“We are pleased to collaborate with Klickl International, aligning with the UAE’s bold vision to accelerate the digital economy. At Zand, we are committed to delivering seamless and secure banking experiences through continuous innovation and a client-first approach.”
Similarly, Klickl CEO Michael Zhao expressed enthusiasm for the partnership:
“This collaboration marks a pivotal moment in reshaping the digital finance landscape. With Zand’s support, we are unlocking new possibilities for businesses and consumers, driving meaningful change in the industry.”
Strengthening the UAE’s Digital Economy
This partnership reflects the UAE’s vision to become a global leader in digital finance by fostering collaborations that combine traditional and decentralised financial systems.
The alliance between Zand Bank and Klickl International promises to drive significant progress in the Web3 ecosystem while paving the way for more secure and efficient digital financial solutions.
