Zand

Digital Bankingzand.ae

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

Digital banking services
Corporate transaction banking
Digital asset custody
AED-backed stablecoin
Fintech API banking

Where Zand is headquartered

Location

Headquarters

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 offering

Core 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 profile

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Zand technology and API

Technology

Technology 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 signal

Partnerships

25 partnerships are on record, tiered core and minor.

DWTC (Dubai World Trade Centre) Free ZonecoreStrategic or Co-development Partner · 20 May 2026Strategic 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 or Co-development Partner · 10 February 2026Strategic 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)minorStrategic or Co-development Partner · 15 January 2026MOU signed to establish strategic framework for collaboration across digital assets, tokenization, and technology development.
XDC NetworkcoreTechnology or Integration · 12 January 2026Partnership 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.
YuzecoreChannel Partner/ Reseller/ Distributor · 6 January 2026Strategic 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.aiminorStrategic or Co-development Partner · 21 November 2025Partnership 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)coreOthers · 17 November 2025Wholly-owned subsidiary of Zand Bank responsible for issuing Zand AED (AEDZ) stablecoin, UAE's first regulated, multi-chain AED-backed stablecoin on public blockchains.
HuruminorChannel Partner/ Reseller/ Distributor · 29 October 2025Partnership to enable easier financial access for the unbanked and underbanked population in UAE.
CoinMENAminorChannel Partner/ Reseller/ Distributor · 28 August 2025Partnership to make fiat-to-crypto integration faster, safer, and smarter across MENA region.
MastercardcoreStrategic or Co-development Partner · 14 August 2025Strategic collaboration to enhance cross-border payment solutions. Partnership leverages Mastercard's global payment network with Zand's digital banking infrastructure.
areebaminorChannel Partner/ Reseller/ Distributor · 23 May 2025Partnership to accelerate card issuance for fintechs in UAE through Zand's banking infrastructure.
ForteXchainminorStrategic or Co-development Partner · 7 May 2025Dubai tokenization platform launching real estate tokenized investment for retail and institutional investors.
TokinvestminorStrategic or Co-development Partner · 30 April 2025Strategic partnership to provide fully integrated solution for tokenized real-world assets covering design, issuance, custody, and secondary trading.
PaymentologyminorChannel Partner/ Reseller/ Distributor · 12 November 2024Referral partnership with leading global issuer processor to enhance fintech services in UAE.
Mobile Shop Group (CabCab)minorChannel Partner/ Reseller/ Distributor · 29 October 2024Collaboration through subsidiary brand CabCab for digital banking services.
Arab Financial Services (AFS)coreChannel Partner/ Reseller/ Distributor · 11 October 2024Strategic partnership to empower fintech innovation in Middle East and Africa region. AFS is the leading digital payment solutions provider and fintech enabler.
Network InternationalminorChannel Partner/ Reseller/ Distributor · 2 September 2024Referral partnership to enhance fintech services in UAE.
TauruscoreTechnology or Integration · 2 July 2024Strategic partnership enhancing digital asset infrastructure with advanced custody and tokenization solutions. Swiss-based digital asset technology provider.
MantraminorStrategic or Co-development Partner · 5 June 2024MoU to streamline and develop asset tokenization and distribution of Real-World Assets (RWAs).
Infosys FinaclecoreTechnology or Integration · 3 April 2024Subscription to Infosys Finacle's Corporate Banking Suite on Microsoft Cloud to deliver new-age banking experiences including open APIs.
Transguard GroupcoreChannel Partner/ Reseller/ Distributor · 4 March 2024MoU aligning both entities with UAE's strategic vision for digital economy transition. Partnership includes ZandPay POS solution.
Real Estate Regulatory Agency (RERA) / Dubai Land DepartmentcoreOthers · 9 January 2024Zand appointed as approved bank authorized by DLD to oversee real estate development escrow accounts and offer associated services.
FOMO PayminorChannel Partner/ Reseller/ Distributor · 13 December 2023Partnership to facilitate cross-border payments enhancing financial connectivity between Asia and MENA.
ADGM (Abu Dhabi Global Market)minorOthers · 21 February 2023Partnership to support Technology SMEs in Abu Dhabi through ADGM's fintech ecosystem.
ABLF (Asian Business Leadership Forum)minorGTM or Marketing Partner · 21 October 2021Partnership 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 assessment

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Zand compliance and trust

Trust signal

Compliance5 records

Zand financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Zand leadership team

Management profile

Number of profiles

Profiles12 records

Zand subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

Zand funding detail

Funding detail

Funding 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 investment

M&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?

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.