Zand Becomes UAE’s Second Regulated Bank to Launch Dirham Stablecoin
Zand, an AI-powered digital bank favored by many UAE-regulated crypto firms (VASPs), announced the launch of a UAE Central Bank-regulated, AED-backed stablecoin that can be used across multiple public blockchains. The token is issued under the country’s regulatory framework, positioning Zand as the second regulated UAE bank to bring a dirham-pegged stablecoin to market. The product aims to combine fiat stability with blockchain interoperability.
The move matters because it strengthens compliant on-ramps for crypto businesses and could accelerate payments, settlement, and tokenization use cases within and beyond the UAE. By offering a regulated, interoperable dirham token, Zand may boost liquidity for VASPs and institutional users while addressing regulatory and custody concerns that have slowed adoption. Market participants will watch how the stablecoin is integrated into existing payment rails and cross-border flows.