• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Taurus Partnership with Zand Bank in the UAE: A Boost to Digital Banking and Crypto Regulations

user avatar

by Giorgi Kostiuk

a year ago


The collaborative venture between Taurus, a Swiss cryptocurrency infrastructure platform, and Zand Bank in the United Arab Emirates (UAE) is set to elevate Zand's custody services, tokenization capabilities, and blockchain connectivity. Through Taurus' advanced infrastructure solutions, Zand will have the ability to tokenize financial and tangible assets across various blockchains, complying with UAE regulations. The custody services offered by Taurus will include cryptocurrencies, digital currencies, and non-fungible tokens.

Zand Bank, based in Dubai and operating without physical branches, obtained its license from the Central Bank of the UAE in 222, marking it as the first digitally native bank in the region. This move aligns with the ongoing financial infrastructure transformation initiated by the UAE government to adapt to the evolving regulatory landscape. Taurus' managing director, Bashir Kazour, expressed his enthusiasm in supporting Zand in shaping their digital asset strategy while adhering to all pertinent regulations.

The regulatory reforms by the Central Bank of the UAE encompass stringent Anti-Money Laundering measures and crackdowns on unauthorized virtual asset service providers. These efforts resulted in the UAE being removed from the Financial Action Task Force's gray list, facilitating smoother international financial transactions in the country.

The UAE's repositioning on the global financial stage has led to the introduction of new regulations, including stablecoin licensing protocols that have garnered attention for potentially complicating foreign investments. Despite this, the country has witnessed a surge in crypto companies relocating and receiving licenses, such as Binance, Crypto.com, Nexo, and others.

Taurus, with support from investors like Swiss Arab Bank, Deutsche Bank, and Credit Suisse, has expanded its services to cater to both large financial institutions and small to medium enterprises. Its integration with the Polygon blockchain and its growing presence in regions like Turkey and Canada signify its commitment to international growth and innovation in the crypto sector.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Yapı Kredi Bank Introduces Cryptocurrency Trading Services in Turkey

chest

Yapı Kredi Bank officially announces the launch of a cryptocurrency trading platform, marking a significant development for Turkey's financial landscape.

user avatarGiorgi Kostiuk

Bitcoin Solaris Launches Nova App; BlockDAG’s X1 Miner Surpasses 2 Million Users

chest

Bitcoin Solaris launches Nova app, while BlockDAG's X1 miner has attracted 2 million users.

user avatarGiorgi Kostiuk

Bitcoin Hits Record High: New Peak at $113,700 Driven by Institutional Investments

chest

Bitcoin reached a new high of $113,700 due to institutional inflows and political factors.

user avatarGiorgi Kostiuk

Impact of US Dollar on Global Financial System in Q1 2023

chest

Exploring the factors affecting US Dollar reserves in Q1 2023 and their significance for the global economy.

user avatarGiorgi Kostiuk

Prospects of Solana and Success of Mutuum Finance in DeFi

chest

Solana is gaining momentum, approaching the $180 mark, while Mutuum Finance is successfully conducting its presale.

user avatarGiorgi Kostiuk

ChainCatcher Hosts Discussion on AI and Cryptocurrency Trends

chest

The ChainCatcher event focused on the synergy between AI and cryptocurrency, market impacts, and future trends.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.