NEWS
Zand , UAE ’ s AI-powered digital bank , announces launch of Digital Asset Custody services
Zand , UAE ’ s first licensed , AI-powered digital bank , announced the launch of its Digital Asset Custody services . This innovative offering , approved by the Virtual Asset Regulatory Authority , positions Zand as the first UAE bank to provide institutionalgrade digital asset custody services under its banking license .
Designed for corporate and institutional clients , Zand ’ s custody services ensure top-tier security , with private keys protected in onshore UAE Hardware Security Modules to meet the highest global standards . By combining banking and digital assets expertise with advanced blockchain technology , Zand bridges the gap between Traditional Finance and Decentralised Finance , empowering clients to securely manage both fiat money and digital assets .
As a regulated entity under the
Central Bank of the UAE and a digital assets custodian licensed by VARA , Zand adheres to the strictest standards of stability , compliance , and risk management . The custody solution is supported by advanced security protocols , continuous audits , and a dedicated team of information security experts , ensuring that clients ’ assets remain secure and accessible .
With its AI-powered infrastructure , Zand not only delivers seamless digital banking experiences but also sets new benchmarks for trust and reliability in the financial sector .
Zand is the UAE ’ s licensed , AI-powered digital bank , established to drive the digital economy forward . By leveraging artificial intelligence and blockchain technology , Zand provides corporate , institutional , fintech , and wealth clients with innovative and secure financial solutions .
Mohamed Alabbar , Chairperson of Zand , commented , “ This approval from VARA is a milestone for Zand and the UAE ’ s digital economy . It reflects our commitment to bold innovation and sustainable growth . Our mission is to establish Zand as a cornerstone of the UAE ’ s evolving financial landscape , contributing to the nation ’ s ambition to be a global financial powerhouse .”
UAE ’ s AI Office partners with UiPath to boost agentic automation
The Artificial Intelligence , Digital Economy and Remote Work
Applications Office in the UAE government announced a partnership with UiPath , to advance Agentic Automation , a transformative approach to automation powered by AI . This collaboration will focus on developing AI-powered automation solutions across government entities while equipping UAE talent with critical AI skills . The initiative is aligned with the UAE National strategy for AI , which supports the UAE ’ s vision to become a global leader in AI by 2031 . In conjunction with the announcement of the collaboration , HE Omar Sultan Al Olama , Minister of State for Artificial Intelligence , Digital Economy , and Remote Work Applications , met with Daniel Dines , Founder and Chief Executive Officer of UiPath , along with the UiPath team .
Dr Abdulrahman Al Mahmoud , Director at the Artificial Intelligence , Digital Economy , and Remote Work Applications Office , emphasized that the UAE government is committed to fostering partnerships and collaboration with entrepreneurs and private sector companies specialising in advanced technology fields . This aligns with efforts to achieve the objectives of the UAE ’ s Strategy for Artificial Intelligence .
Dr Al Mahmoud added that AI-powered automation will contribute to advancing national strategies , providing the necessary enablers to leverage AI applications in enhancing government services . He noted that these partnerships will support efforts to build government workforce capabilities and prepare them for AI-dependent roles .
“ The UAE has been fast to recognise and harness the tremendous potential unlocked by the AI revolution . We are excited to enhance the UAE ’ s journey on its mission to infuse AI-powered automation into its operations and empower government sector employees and graduates with valuable AI skills .
“ In doing so , it is furthering its ambitious vision to become a nation in AI , and create new economic , educational , and social opportunities for its citizens and businesses ,” said Zakaria Haltout , Area Vice President Middle East and Africa at UiPath .
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