Swiss cryptocurrency infrastructure platform Taurus will provide services to the United Arab Emirates’ Zand Bank. Their partnership will enhance Zand’s custody and tokenization options and blockchain connectivity.
Taurus’ infrastructure solutions will enable Zand to issue tokenized financial and real-world assets across permissioned and permissionless blockchains using Taurus’ node infrastructure under UAE regulation. Its custody solution will embrace cryptocurrencies, digital currencies and noon-fungible tokens as well.Zand is headquartered in Dubai and has no physical branches.
The CBUAE has been implementing a reform of the country’s digital financial market as part of the government’s financial infrastructure transformation. Those measuresforeign investment. Nonetheless, the UAE has seen a wave of crypto firms relocating there and receiving licenses this year, including Binance, Crypto.com, Nexo, Solana, Laser Digital, South Korea’s Hashed Ventures, Blockdaemon and Chainalysis.