Zand Bank Bolsters Stablecoin Toolkit with USDC Addition
Zand Bank, the first fully licensed digital bank in the UAE, has expanded its stablecoin toolkit by adding support for Circle's USDC. This move aims to make cross-border payments faster, cheaper, and more efficient for businesses operating within and outside the Emirates.
The expansion includes both USD-pegged and AED-pegged stablecoins under one banking roof. Zand's digital asset custody service now supports USDC on both the Ethereum and Polygon networks, providing clients with flexibility across two of the most widely used blockchain ecosystems.
AEDZ, launched by Zand in November 2025, is a regulated multi-chain AED-backed stablecoin on public blockchains. Each AEDZ token is backed 1:1 by segregated AED reserves, with independent audits and attestations to ensure transparency.
Zand's digital-first model has achieved commercial success, reaching break-even within 22 months under CEO Michael Chan. The bank holds a full banking license from the Central Bank of the UAE and has received a VARA authorization for digital asset custody.