Neobank Zand Bank partners with Taurus to provide cryptocurrency services
Zand, a digital bank based in Dubai, has entered into a strategic partnership with Taurus, a Swiss crypto management platform, in order to enhance its digital asset services. As part of this collaboration, Taurus will serve as a “strategic partner” for Zand Bank, as the bank looks to expand its offerings related to crypto and services connected to tokenized securities.
Zand, which is licensed and regulated by the central bank of the UAE, announced in a press release to crypto.news that it will utilize Taurus’ crypto wallet services, including both hot and cold wallets, to provide custodian services for cryptocurrencies, non-fungible tokens (NFTs), and digital currencies. Additionally, Zand will make use of Taurus’ products to issue and carry out asset servicing for “any type of tokenized financial and real-world assets.”
According to the press release, “Zand will be able to deploy and manage the lifecycle of any smart contract standard across both public and private blockchains.”
CEO of Zand Bank, Michael Chan, emphasized that the partnership signifies a significant step forward in the bank’s efforts to establish a “new benchmark” for digital asset services, with the aim of expanding its crypto offerings to customers.
For Taurus, this partnership follows closely on the heels of the FINMA-regulated crypto management platform’s recent expansion of its crypto offerings, which now include support for the Stellar network. Founded in 2018 by Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder, and Jean-Philippe Aumasson, Taurus has secured $65 million from institutional investors such as Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and others, according to data from PitchBook.
This partnership comes after Taurus collaborated with Lido to allow stETH client access, demonstrating the platform’s commitment to expanding its services and partnerships in the crypto space.
