In a significant move to enhance its digital asset infrastructure, Zand Bank has entered into a strategic partnership with Taurus, a Switzerland-based digital asset technology provider. This collaboration will cover all aspects of digital asset management, including custody, tokenization, and blockchain connectivity.
Taurus, renowned for its comprehensive digital asset solutions for banks, will provide Zand with its integrated custody and tokenization services. This partnership will enable Zand to expand its offerings in the realm of digital assets, including cryptocurrencies, tokenized securities, and digital currencies. Backed by prominent institutional investors such as Credit Suisse, Deutsche Bank, Arab Bank Switzerland, Lombard Odier, and Pictet Group, Taurus raised $65 million in 2023 to bolster its technological capabilities.
Key Aspects of the Partnership:
- Custody and Security: At the core of this partnership is the provision of institutional-grade custody for digital assets. Zand will leverage Taurus-PROTECT wallet solution to ensure secure storage for a variety of digital assets, including cryptocurrencies, NFTs, tokenized securities, and digital currencies in the UAE.
- Tokenization Solutions: Taurus will enable Zand to utilize advanced tokenization solutions, facilitating the creation and management of tokenized assets. This will support Zand’s strategy to offer innovative digital asset services in the region.
Leadership Perspectives:
Michael Chan, CEO of Zand, expressed his enthusiasm about the partnership, stating, “Our partnership with Taurus signifies a new benchmark for digital asset services, marking a new era of banking excellence. This collaboration will redefine the essence of the digital economy by converging security, versatility, and client-centric solutions.”
Bashir Kazour, Managing Director at Taurus, commented on the collaboration, saying, “It’s a privilege to assist Zand, a leader in digital banking, in launching their digital asset strategy in line with all applicable regulations. I look forward to supporting Zand in delivering landmark transactions in the area of tokenized assets.”
This strategic partnership between Zand Bank and Taurus is expected to set a new standard for digital asset services in the UAE, contributing to the growth and development of the digital economy in the region.
