As an experienced financial analyst, I see this strategic partnership between Zand Bank and Taurus as a significant move for both parties. For Zand Bank, based in Dubai, expanding its crypto offerings and services tied to tokenized securities is a smart move to stay competitive in the rapidly evolving digital banking landscape. By relying on Taurus’ crypto wallet services and leveraging its products to issue and perform asset servicing, Zand will be able to offer more comprehensive digital asset solutions to its customers. Moreover, the ability to deploy and manage the lifecycle of any smart contract standard across both public and private blockchains is a game-changer for the bank.
In a significant collaboration, Zand, the digital bank headquartered in Dubai, has teamed up with Swiss cryptocurrency management platform Taurus to provide clients with access to digital asset services.
Switzerland’s cryptocurrency administration company, Taurus, has been named a “key collaborator” by Dubai’s digital bank, Zand Bank, in their mission to broaden the scope of their crypto-related products and tokenized securities.
In a statement released to crypto.news, Zand, which is regulated by the UAE central bank, announced its intention to utilize Taurus’ wallet services for providing custodian solutions not just for cryptocurrencies, but also NFTs and digital currencies. Furthermore, Zand plans to make use of Taurus’ offerings to issue and manage “any type of tokenized financial and real-world assets,” thus expanding its asset servicing capabilities.
“Zand possesses the capability to set up and control the entire life span of any given smart contract model on both publicly accessible and private blockchain networks.”
Michael Chan, the CEO of Zand Bank, emphasized that the new partnership signifies a significant leap forward in the bank’s mission to set a “pioneering standard” for digital asset services. The goal is to broaden the bank’s crypto offerings and cater to its clients effectively.
Taurus, established in 2018 by Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder, and Jean-Philippe Aumasson, has recently announced a new collaboration. This news follows the FINMA-compliant crypto management platform’s recent expansion of its offerings, now including Stellar as an added supported network. According to data from PitchBook, Taurus successfully raised $65 million in funding from prestigious institutional investors such as Credit Suisse, Deutsche Bank, and Arab Bank Switzerland.
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2024-07-03 15:52