Banks in the UAE are increasingly entering the Crypto Ecosystem. UAE Digital Bank Zand, an AI-powered fintech and financial services group, and Coinmena Fze, a leading crypto trading platform, are partnering to provide seamless, secure Fiat-to-crypto integration to Coinmena clients across the region.
According to a press release, clients can transfer funds between their Zand Bank account and Coinmena Wallet. Zand’s AI and blockchain infrastructure ensures efficient banking services for Coinmena users. Additionally, the service covers Fiat, Crypto, and Stubcoin conversions in a secure and seamless way.
Zand CEO Michael Chan points out that they will partner with Coinmena to make clients easier to trade. He believes this will advance the digital economy and drive local innovation by bridging the gap between traditional finance (TRADFI) and distributed finance (DEFI).
Coinmena co-founders Talal Tabbaa and Dina Sam’an pointed out that they joined forces with Zand as they are a leading digital bank that shares their commitment to regulatory compliance and financial innovation.
Subject to regulatory approval, Zand and Coinmena FZE aim to explore collaboration opportunities, including real-world assets (RWAS) tokenization, facility-grade custody solutions, and broader infrastructure development to support the digital economy.
Rakbank enters the crypto exchange space
July, UAE-based Rakbank Release Cryptographic securities company services via mobile apps also allow crypto transactions with retail customers, using UAE-regulated crypto exchange Bitpanda services. As a start, the service is provided by invitation only and deployed to more customers, allowing you to buy, sell and exchange cryptocurrency.
in uaeSeveral banks have entered the crypto space, including Liv Bank, where Mbank, Zand Bank, and Liv Bank collaborate with Crypto Exchange Aquanow, as well as Fab (First Abu Dhabi Bank) by integrating Crypto Exchanges.
Additionally, banks such as FAB have begun working on developing their own local stubcoins, indicating a growing interest in banks. Cryptographic ecosystems. First Abu Dhabi Bank (FAB), IHC and ADQ Sovereign Investor will launch a new AED-assisted Stablecoin regulated by the UAE Central Bank. The AED Stablecoin was issued by Fab, and the trio aims to make payments easier locally and internationally.
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