Zand, the UAE's first licensed AI-powered digital bank, has received approval from the Dubai regulator VARA to offer digital asset and crypto custody services. It is the first UAE bank to offer institutional-grade digital asset and crypto custody services under its banking license. The bank will store private keys onshore in the UAE to meet global standards. In addition, Zand will launch an AED-backed stablecoin to integrate traditional finance and decentralized finance. Last week, AE Coin received the first stablecoin license in the UAE and aims to revolutionize financial services with instant, secure, stable, and efficient payments.



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