ChainCatcher news, Bashir Kazour, Managing Director of the Swiss cryptocurrency company Taurus, stated that traditional financial institutions in the UAE, such as banks, are eager to launch digital asset services. Kazour made the statement as the company established a new partnership with Zand, the UAE's first digital bank, to provide digital asset services.Zand will utilize Taurus's custody and tokenization solutions. This will enable Zand to expand its digital asset offerings, including cryptocurrencies, tokenized securities, and NFTs.Kazour stated, "The collaboration with Zand reflects the progress of the UAE as a leading digital asset hub. The company is further investing in the UAE to serve our clients in a Swiss and regional manner."

ChainCatcher news, Zand Bank, a digital bank authorized by the Central Bank of the UAE, announced the signing of a memorandum of understanding (MOU) with MANTRA, a Layer1 blockchain focused on RWA. The collaboration between the two entities will focus on developing a framework to support the tokenization and distribution of RWA, and will comply with the regulations of the Dubai Virtual Assets Regulatory Authority (VARA).

ChainCatcher news, Singapore-based digital payment provider FOMO Pay has reached a strategic partnership with UAE digital bank Zand Bank, aiming to facilitate seamless cross-border payments between Asia and the Middle East and North Africa (MENA) region. Through this collaboration, both parties are committed to further providing fast, secure, and cost-effective digital payment and digital banking solutions to optimize the cost-effectiveness and time efficiency of B2B cross-border transactions.FOMO Pay is a payment institution authorized by the Monetary Authority of Singapore, with its cross-border remittance services covering over 70 countries. Recently, it obtained a license in Hong Kong and will launch payment and remittance services there, further promoting cross-regional economic connections in the Greater Bay Area. Zand Bank is a fully licensed digital bank by the Central Bank of the UAE, focusing on digital innovation.