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.
