Taurus, the blockchain technology firm, has signed a deal with the UAE’s Zand Bank for custody, tokenization, and blockchain connectivity. Zand is the United Arab Emirates’ (UAE) first digital bank (UAE) and holds a full banking license. Meanwhile, Taurus’ backers include Credit Suisse, Deutsche Bank, Arab Bank Switzerland and Pictet Group.
Zand launched in 2022 with a focus on corporate, institutional and wealth clients. Chairman Mohamed Alabbar is the founder of Emaar Properties, known for developing the Burj Khalifa and the Dubai Mall, and Franklin Templeton is one of the bank’s backers.
The bank plans to launch a digital asset offering covering cryptocurrencies, NFTs, tokenized securities and digital currencies. Last month it signed a deal with MANTRA the Dubai-based layer one blockchain which plans to specialize in the tokenization of real world assets (RWA).
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