Zand Bank

Zand Bank is a bank in the UAE with a separate set of services for virtual asset service providers (VASPs): fiat accounts, virtual IBANs, digital asset custody and international settlements. It combines a banking authorisation from the Central Bank of the UAE with a VARA licence for crypto custody for institutional and qualified investors. The legal entity is Zand Bank P.J.S.C.

Services

The listed services include VASP banking and virtual IBANs. The account types are fiat business accounts, master and virtual IBAN structures, custodial digital-asset wallets and escrow. The dedicated VASP page presents one banking relationship for fiat and client accounts, custody and settlement. Client types are VASPs, business banking customers, and institutional and qualified investors for custody.

Regulation

The bank names CBUAE licence 01.01.01.064.2022.02 and VARA licence VL/2024/12/001, along with CMA-VASP-0010000-0023. The regulators are CBUAE and VARA. The registered office is in Emaar Square, Dubai.

Fees

The SME page advertises a zero account-opening fee.

Crypto scope

The fiat accounts and payment infrastructure are explicitly scoped for crypto-related corporate or institutional clients. Legal-entity and onboarding restrictions apply, so a VASP should confirm eligibility, jurisdiction of licensing and documents before applying.