Zand
Zand is the UAE's first fully licensed all-digital bank, offering corporate banking, institutional digital asset custody, the AEDZ regulated stablecoin, escrow services, and API banking for corporates, fintechs, SMEs, and institutions across the UAE.
- Company typePrivate
- Founded2021
- HeadquartersDubai, United Arab Emirates
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Zand does
Zand is the UAE's first fully licensed, all-digital bank, operating as Zand Bank PJSC from Dubai under a Central Bank of the UAE banking license (received July 2022) and a Dubai VARA virtual asset custody license (VL/2024/12/001). The bank was established through shareholders' acquisition of Dubai Bank PJSC from Emirates NBD in December 2021, with operations launching in 2022. Zand serves corporate clients, financial institutions, SMEs and startups, fintech companies, retail customers, and wealth clients, with a primary focus on business banking and institutional digital asset services. It is majority-owned by Al Hail Holding under Chairman Mohamed Alabbar, with Michael Chan as CEO.
Zand's product portfolio spans transaction banking (Demand Deposit Accounts, Virtual Integrated Accounts, multi-currency payments in 15 currencies), institutional-grade digital asset custody (Zand Vault cold storage and Zand Wallet hot wallet supporting Bitcoin, Ethereum, Polygon, Solana, XDC), the AEDZ stablecoin (UAE's first regulated multi-chain AED-backed stablecoin, issued by wholly-owned subsidiary Zand Trust), ZandMint stablecoin on/off-ramp platform, ZandPay POS merchant acquiring, and escrow services for M&A and real estate (DLD and RERA approved). The underlying platform integrates FIPS 140-3 compliant HSMs, Threshold Signature Scheme and multi-signature custody, agentic AI infrastructure using A2A and MCP frameworks, and APIs enabling fintech and corporate integrations.
Zand's business model combines transaction fees (payments, FX, POS, escrow), recurring subscription fees (custody, API banking), and spread-based revenue (stablecoin on/off-ramp). Distribution is B2B-led through direct enterprise sales and a fintech partnership network spanning Mastercard, Ripple, areeba, AFS, Network International, Yuze, Paymentology, and Transguard Group. The bank has achieved notable certifications (Fitch BBB+ with stable outlook, ISO 27001/27701 for Web3, SOC 2 Type II covering digital and blockchain products), positioning itself as a regulated bridge between TradFi and DeFi serving the UAE and broader MENA digital economy.
Zand firmographics
Firmographics- Name
- Zand
- Legal name
- Zand Bank PJSC
- Website
- https://zand.ae
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Zand is the UAE's first fully licensed all-digital bank, offering corporate banking, institutional digital asset custody, the AEDZ regulated stablecoin, escrow services, and API banking for corporates, fintechs, SMEs, and institutions across the UAE.
- Ownership category
- akta.pro rank
Zand industry classification
Industry- Product category
- Digital Banking
- NAICS
- Depository Credit Intermediation (5221), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)
- akta.pro secondary industry
- Governance, Controls & Policy Automation (GRC for Web3) (FSAPAJAG)
Keywords
Where Zand is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
Zand business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Others
Revenue model
- Transaction Banking: Revenue from demand deposit accounts, virtual integrated accounts, treasury services, and FX operations for corporate clients. Includes payment processing fees and cash management services.
- Digital Asset Custody Services: Institutional-grade digital asset custody services for corporates, institutions, and wealth clients. Revenue likely from custody fees, transaction fees, and platform access charges.
- Stablecoin Services (ZandMint): On/off-ramp services for stablecoins (AEDZ, USDT, USDC) with conversion between fiat and digital currencies. Revenue from transaction fees and spreads on conversions.
- ZandPay POS: Point of sale payment processing services for merchants. Revenue from transaction processing fees and payment gateway services.
- Commercial Escrow Services: Escrow account management for M&A deals and commercial contracts, providing neutral third-party oversight with fee-based pricing structure.
- Real Estate Escrow Services: Escrow services for off-plan real estate transactions approved by regulators including RERA, Dubai Land Department, and ADGM. Revenue from escrow fees and advisory services.
- API Banking Services: Revenue from fintech and corporate clients using Zand's APIs for payment processing, virtual accounts, and banking integrations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Real Estate Escrow Services with competitive pricing structure |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Zand product offering
Product offeringCore offering
Zand Bank PJSC is a UAE-based fully licensed all-digital bank that provides corporate and institutional clients with transaction banking (DDAs, Virtual Integrated Accounts, multi-currency payments), institutional-grade digital asset custody, the AEDZ regulated AED-backed multi-chain stablecoin issued via its Zand Trust subsidiary, ZandMint stablecoin on/off-ramp services, ZandPay POS acquiring, and Commercial and Real Estate Escrow Services. The offering is delivered through a fully digital API-first platform without physical branches and is regulated by the Central Bank of the UAE and Dubai's VARA.
Product overview
Zand is a platform-plus-modules digital banking architecture offering a unified suite of banking, digital asset, and blockchain-powered financial products. The core platform combines Transaction Banking (DDA, VIAs, multi-currency payments), Digital Asset Custody (institutional-grade multi-network storage), and the Zand AED (AEDZ) stablecoin, all accessible through unified APIs. Key modules include ZandMint (stablecoin on/off-ramp), ZandPay POS (merchant acquiring), and Commercial/Real Estate Escrow Services. The offering is powered by AI (agentic systems for automation, fraud detection, personalization) and is supplemented by announced future products: Global Market (treasury/FX), Wealth Management, and ESG Solutions. The platform integrates with Ripple (XRP Ledger), XDC Network, Mastercard, and Fireblocks, and is regulated by the CBUAE and VARA.
Differentiator
Problem solved
Functional benefit
Brands
- ZandMint: Multi-currency, multi-stablecoin, multi-ecosystem platform ensuring accessibility to stablecoins with on/off-ramp capabilities between fiat and digital currencies. Supports AEDZ, USDT, and USDC.
Products and services
- Transaction Banking
- Digital Asset Custody
- AEDZ (Zand AED) Stablecoin
- ZandMint Stablecoin Platform
- ZandPay POS
- Commercial Escrow Services
- Real Estate Escrow Services
- API Banking Services
Quantifiable outcome
- First digital bank in UAE with full banking license and VARA custody license
- +3 more outcomes
Companies that use Zand
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles4 records
Zand technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability9 records
Feature10 records
Zand partnerships and signals
Strategic signalPartnerships
25 partnerships are on record, tiered core and minor.
- DWTC (Dubai World Trade Centre) Free ZonecoreStrategic partnership to deliver AI-powered banking solutions to companies registered with the DWTC Free Zone. Collaboration aims to support Dubai's Economic Agenda (D33) with target of AED 100 billion annually from digital transformation.
- RipplecoreStrategic partnership to power UAE digital economy with stablecoin and blockchain innovations. Collaboration includes Zand AED stablecoin (AEDZ) and Ripple's USD (RLUSD) stablecoin integration, liquidity solutions using XRP Ledger, and participation in zero-knowledge proof verification for private bank transactions.
- Digital Climate Group (DCG)minorMOU signed to establish strategic framework for collaboration across digital assets, tokenization, and technology development.
- XDC NetworkcorePartnership to enhance blockchain-powered financial services allowing corporate and institutional clients in UAE to custody assets on XDC Network through Zand's digital asset custody platform. Collaboration also aims to streamline gold trading using blockchain technology.
- YuzecoreStrategic alliance to provide digital business accounts and financial services to underserved small businesses, startups, and entrepreneurs in UAE. Partnership enables eligible companies to access IBAN accounts and digital banking solutions through Yuze's platform.
- Robo.aiminorPartnership to pioneer new paradigm in machine economy fintech. Integration of Robo.ai's intelligent hardware ecosystem with Zand's regulated digital financial system, focusing on AED stablecoin payments, IoT asset custody, and Real-World Asset tokenization.
- Zand Trust (subsidiary)coreWholly-owned subsidiary of Zand Bank responsible for issuing Zand AED (AEDZ) stablecoin, UAE's first regulated, multi-chain AED-backed stablecoin on public blockchains.
- HuruminorPartnership to enable easier financial access for the unbanked and underbanked population in UAE.
- CoinMENAminorPartnership to make fiat-to-crypto integration faster, safer, and smarter across MENA region.
- MastercardcoreStrategic collaboration to enhance cross-border payment solutions. Partnership leverages Mastercard's global payment network with Zand's digital banking infrastructure.
- areebaminorPartnership to accelerate card issuance for fintechs in UAE through Zand's banking infrastructure.
- ForteXchainminorDubai tokenization platform launching real estate tokenized investment for retail and institutional investors.
- TokinvestminorStrategic partnership to provide fully integrated solution for tokenized real-world assets covering design, issuance, custody, and secondary trading.
- PaymentologyminorReferral partnership with leading global issuer processor to enhance fintech services in UAE.
- Mobile Shop Group (CabCab)minorCollaboration through subsidiary brand CabCab for digital banking services.
- Arab Financial Services (AFS)coreStrategic partnership to empower fintech innovation in Middle East and Africa region. AFS is the leading digital payment solutions provider and fintech enabler.
- Network InternationalminorReferral partnership to enhance fintech services in UAE.
- TauruscoreStrategic partnership enhancing digital asset infrastructure with advanced custody and tokenization solutions. Swiss-based digital asset technology provider.
- MantraminorMoU to streamline and develop asset tokenization and distribution of Real-World Assets (RWAs).
- Infosys FinaclecoreSubscription to Infosys Finacle's Corporate Banking Suite on Microsoft Cloud to deliver new-age banking experiences including open APIs.
- Transguard GroupcoreMoU aligning both entities with UAE's strategic vision for digital economy transition. Partnership includes ZandPay POS solution.
- Real Estate Regulatory Agency (RERA) / Dubai Land DepartmentcoreZand appointed as approved bank authorized by DLD to oversee real estate development escrow accounts and offer associated services.
- FOMO PayminorPartnership to facilitate cross-border payments enhancing financial connectivity between Asia and MENA.
- ADGM (Abu Dhabi Global Market)minorPartnership to support Technology SMEs in Abu Dhabi through ADGM's fintech ecosystem.
- ABLF (Asian Business Leadership Forum)minorPartnership with UAE's most influential leadership platform to foster conversations around new era in banking sector in MENA region.
Scale indicators6 records
Recent moves17 records
Expansion highlights6 records
Zand competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Zand social profiles
Digital presenceZand compliance and trust
Trust signalCompliance5 records
Zand financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zand leadership team
Management profileNumber of profiles
Profiles12 records
Zand subsidiaries and ownership
Company hierarchySubsidiaries1 record
Zand funding detail
Funding detailFunding overview
Funding rounds1 record
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zand M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Zand
What does Zand do?
Zand Bank PJSC is a UAE-based fully licensed all-digital bank that provides corporate and institutional clients with transaction banking (DDAs, Virtual Integrated Accounts, multi-currency payments), institutional-grade digital asset custody, the AEDZ regulated AED-backed multi-chain stablecoin issued via its Zand Trust subsidiary, ZandMint stablecoin on/off-ramp services, ZandPay POS acquiring, and Commercial and Real Estate Escrow Services. The offering is delivered through a fully digital API-first platform without physical branches and is regulated by the Central Bank of the UAE and Dubai's VARA.
Is Zand a public or private company?
Zand is a private company. It is classified as corporate owned and is currently operating.
When was Zand founded?
Zand was founded in 2021. It employs 101 to 250 people.
Where is Zand based?
Zand is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does Zand make money?
Seven revenue lines are on record. Transaction Banking is the primary driver. The others are digital Asset Custody Services, stablecoin Services (ZandMint), zandPay POS, commercial Escrow Services, real Estate Escrow Services and API Banking Services.
Does Zand have an API?
Yes. Zand offers a suite of APIs enabling fintechs and corporate entities to create Virtual IBANs, enable seamless domestic and international payments, automated payments, reconciliation, and reporting. APIs are available across four domains: Account Services, Payments Services, Virtual Accounts, and Webhooks for Real-Time Notifications. The platform supports sending money in 15 currencies with multi-rail API delivery. API access is granted via registration and approval process (not publicly open). Developer documentation is at www.zand.ae/en/explore-apis.
What industry is Zand in?
Zand's product category is Digital Banking. Its primary akta.pro industry code is FSADAAAG, Crypto Custody & Exchange Wallet Services (Integrated), with a secondary code of FSAPAJAG, Governance, Controls & Policy Automation (GRC for Web3). Its NAICS code is 5221 and its SIC code is 6199.