Dubai’s push to accelerate digital finance gained fresh momentum as Zand, the UAE’s first AI-powered digital bank, announced a strategic partnership with CoinMena, one of the region’s leading regulated virtual asset platforms.
The collaboration, unveiled on August 28, will allow CoinMena clients across the Middle East and North Africa to seamlessly move funds between their Zand bank accounts and CoinMena wallets, making fiat-to-crypto transactions faster, more secure, and user-friendly.
The partnership positions Zand at the forefront of integrating traditional banking with the digital asset economy. With its AI and blockchain infrastructure, the bank aims to provide a frictionless bridge between fiat and crypto markets, including support for stablecoins.
CoinMena, meanwhile, brings its reputation as a trusted, licensed exchange in Bahrain and the UAE, offering a strong regulatory foundation and a growing customer base.
Michael Chan, CEO of Zand, said the collaboration reflects Abu Dhabi and Dubai’s vision to become leaders in the global digital economy. “This partnership aligns with our commitment to bridging traditional finance and decentralized finance, creating a secure and seamless ecosystem for users. By combining our banking expertise with CoinMena’s digital asset capabilities, we are redefining the future of finance in the region,” he noted.
CoinMena co-founders Talal Tabbaa and Dina Sam’an welcomed the move as a step forward in mainstreaming virtual assets. “Partnering with Zand strengthens our ability to provide clients with direct, efficient, and compliant access to crypto. It also sets the stage for broader innovation in tokenization, custody, and infrastructure to support the region’s digital transformation,” they said in a joint statement.
Subject to regulatory approvals, the two companies plan to expand collaboration into areas such as tokenized real-world assets and institutional-grade custody solutions. The tie-up comes as the UAE accelerates efforts to regulate and promote digital assets, with Dubai’s Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM) providing globally recognised frameworks.
Analysts say such partnerships highlight the country’s ambition to attract global fintech talent and capital, positioning the UAE as a key gateway for the next generation of digital finance.
