In a defining milestone for the UAE’s digital economy, the Central Bank of the UAE (CBUAE) has approved Zand, the nation’s AI-powered digital bank, to launch Zand AED, the country’s first regulated, multi-chain AED-backed stablecoin on public blockchains.

Zand AED represents a new era for the Dirham by bringing the national currency into global digital rails with the security of a regulated bank and the speed and openness of blockchain technology.

Zand AED is fully backed one-to-one by AED reserves that are held in segregated and regulated accounts to ensure complete redemption value. It is supported by real-time transparency through independently audited smart contracts and reserve attestations. It is available across multiple public blockchains, enabling fast borderless settlement and seamless integration for developers, enterprises, and financial institutions. The stablecoin is issued by Zand Trust, a wholly owned subsidiary of Zand Bank PJSC, which is licensed and supervised by the CBUAE, and is rated BBB+ by Fitch Ratings.

“Launching an AED-backed stablecoin on public blockchains is not simply a milestone for Zand. It is a breakthrough for the UAE,” said Mohamed Alabbar, Chairman of Zand. “This initiative carries our national currency into the digital future and reinforces the UAE’s position as a global leader in financial innovation.”

Michael Chan, CEO of Zand, added: “Zand AED is more than a stablecoin. It is the UAE’s bridge between traditional finance and decentralized finance. It unlocks the next generation of payments, tokenization, and digital asset innovation. All of it is built on trust, transparency, and regulatory clarity.”

With the global stablecoin market projected to reach $3 trillion in the coming years, Zand AED positions the UAE at the forefront of regulated digital finance. It provides a secure and future-ready digital foundation for institutions, Fintechs and developers who aim to build in one of the world’s most advanced financial ecosystems.

About Zand

Licensed by the Central Bank of the UAE and rated BBB+ investment grade by Fitch Ratings, Zand is an AI-powered bank founded to support the digital economy and bridge the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi). Our mission is to revolutionize the world of finance by leveraging AI, Blockchain Technology, and client-centric solutions to empower corporate, institutional, fintech, and wealth clients to thrive in the evolving digital economy. Our purpose is to empower innovators, ambitious leaders, and bold pioneers to shape the future of finance and unlock new opportunities for success. Zand combines the speed and flexibility of a fintech, with the security and strength of a fully licensed bank. Zand, the AI-powered bank for the digital economy. For more information, please visit www.zand.ae. For media inquiries, please email: media@zand.ae