UAE Digital Bank Zand Partners with CoinMENA for Fiat-Crypto Integration

UAE-based digital bank Zand has announced a partnership with cryptocurrency exchange CoinMENA, enabling seamless fiat-to-crypto transactions. Clients can now transfer funds between Zand Bank accounts and CoinMENA wallets, leveraging Zand's AI and blockchain infrastructure for efficient banking services. The collaboration covers fiat, crypto, and stablecoin conversions, emphasizing security and regulatory compliance.

Michael Chan, CEO of Zand, highlighted the partnership's role in bridging traditional and decentralized finance, fostering innovation in the region. CoinMENA co-founders Talal Tabbaa and Dina Sam'an echoed this sentiment, citing Zand's forward-thinking approach as a key driver for the alliance. The两家公司计划探索资产代币化、机构级托管解决方案等领域的合作，待监管批准后实施。

In a related development, RAKBANK entered the crypto brokerage space in July, offering retail customers access to crypto trading via its mobile app. The service, initially invitation-only, utilizes UAE-regulated exchange Bitpanda's infrastructure.