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Dubai-based digital bank Zand has signed a strategic partnership with Swiss cryptocurrency management platform Taurus to offer digital asset services.
Swiss cryptocurrency management firm Taurus is now a “strategic partner” of Dubai-based digital lender Zand Bank as the financial lender looks to expand its cryptocurrency offerings and services linked to tokenized securities.
Zand, a company licensed and regulated by the UAE central bank, said in a press release sent to crypto.news that it will build on Taurus’ crypto wallet services, both hot and cold, to offer custody services for cryptocurrencies, non-fungible tokens (nfts), and digital currencies. Zand will also leverage Taurus’ products to issue and perform asset servicing services “of any type of tokenized financial and real-world assets.”
“Zand will be able to deploy and manage the lifecycle of any smart contract standard on public and private blockchains,” the press release reads.
Zand Bank CEO Michael Chan highlighted that the partnership represents a major step forward in the bank’s efforts to establish a “new benchmark” for digital asset services, with the aim of expanding its cryptocurrency offerings to clients.
For Taurus, the latest partnership comes just a week after the FINMA-regulated cryptocurrency management platform expanded its cryptocurrency offering, adding Stellar to its list of supported networks. Founded in 2018 by Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder and Jean-Philippe Aumasson, Taurus raised $65 million from institutional investors including Credit Suisse, Deutsche Bank, Arab Bank Switzerland and others, according to PitchBook data.