Zand, a UAE-regulated, AI and blockchain-powered digital financial institution, turns into the primary financial institution within the Center East to obtain ISO certification for Info Safety Administration System (ISO 27001) and Privateness Info Administration System (ISO 27701).
By way of significance, Zand Financial institution is now the primary financial institution within the MENA area to fulfill internationally acknowledged requirements for Web3 providers, together with digital asset custody, sensible contract administration, and TradFi and DeFi bridging. In response to a press launch, this achievement displays Zand’s collaboration and continued dedication to implementing and strengthening greatest practices to guard information and prolong safety.
Zand Financial institution is constructing on this achievement with a technique to allow next-generation innovation
ISO 27001 is the main worldwide customary for establishing, implementing, sustaining, and constantly bettering data safety administration methods (ISMS). ISO/IEC 27701 is a global customary for privateness data administration methods (PIMS) that gives necessities and steering for the administration of non-public information.
Each are vital instruments for cyber resiliency and compliance.
Zand’s achievement builds on a earlier assertion made by the corporate’s CEO Michael Chan: “Zand AED is greater than only a stablecoin. It’s the UAE’s bridge between conventional and decentralized finance. It permits the following technology of funds, tokenization and digital asset innovation, all constructed on belief, transparency and regulatory readability.”
These certifications reinforce this assertion.
Marwan Al-Zarrouni, CEO of AI at Dubai Division of Economic system and Tourism, praised the Zand staff in a submit on LinkedIn, saying, “Attaining ISO 27001 and ISO 27701 highlights the staff’s uncompromising dedication to data safety and privateness in digital asset custody and sensible contract providers.”
Zand goals to seamlessly combine crypto and fiat currencies
Earlier this 12 months, Zand and CoinMENA FZE, a UAE cryptocurrency dealer lately acquired by Turkey’s Paribu, joined forces to offer seamless and safe fiat-to-crypto integration for CoinMENA FZE’s purchasers throughout the area.
Purchasers can effectively switch funds between their Zand checking account and CoinMENA FZE pockets. Zand’s AI and blockchain infrastructure will guarantee environment friendly banking providers for CoinMENA FZE customers, guaranteeing safe and seamless conversion between fiat currencies and cryptocurrencies, together with stablecoins.
Zand Financial institution has already change into the digital financial institution of selection for UAE-regulated crypto exchanges, due to its onslaught of incorporating AI, blockchain, and digital belongings.
Zand Financial institution is owned by a consortium of buyers, with main stakes held by Al Khail Holding, Emirates NBD, Franklin Templeton and Yousaf Ali (founding father of Lulu Group), below the path of Chairman Mohamed Alabbar. Different main backers embrace Aditya Birla Group and Al Sayyah & Sons Investments.
