Zand expands stablecoin infrastructure through USDC support
25 August 2026 UAE
Image: Grispb/stock.adobe.com
Zand, a UAE-based blockchain-powered digital bank, has unveiled plans to expand its stablecoin infrastructure capabilities through support for USDC, a US dollar-backed token issued by Circle.
The initiative seeks to support payments, settlement, treasury operations, trading, cross-border transactions, and other use cases.
It also intends to allow eligible clients to utilise Zand’s dirham stablecoin — a multi-chain instrument pegged one-to-one with currency reserves — and USDC within applicable regulatory frameworks.
Zand says the growing demand for regulated stablecoins connecting domestic and international finance could create opportunities for businesses to transfer value more efficiently while enabling programmable financial services, dependent on regulatory and market conditions.
Commenting on the expansion plans, Michael Chan, CEO of Zand, says: “We built the Zand Dirham stablecoin to tear down the walls between global markets, making cross-border payments feel instant, invisible, and effortless.
“This is about bringing the UAE’s digital economy vision to life — standing with our leadership to prove that this nation isn’t just keeping pace, but setting the pace.”
Saeeda Jaffar, managing director of the Middle East, Turkey, Africa, and Pakistan at Circle, adds: “We are encouraged to see continued innovation across the UAE’s digital asset ecosystem and believe interoperability between regulated stablecoins can help support new opportunities for businesses operating globally.”
The initiative seeks to support payments, settlement, treasury operations, trading, cross-border transactions, and other use cases.
It also intends to allow eligible clients to utilise Zand’s dirham stablecoin — a multi-chain instrument pegged one-to-one with currency reserves — and USDC within applicable regulatory frameworks.
Zand says the growing demand for regulated stablecoins connecting domestic and international finance could create opportunities for businesses to transfer value more efficiently while enabling programmable financial services, dependent on regulatory and market conditions.
Commenting on the expansion plans, Michael Chan, CEO of Zand, says: “We built the Zand Dirham stablecoin to tear down the walls between global markets, making cross-border payments feel instant, invisible, and effortless.
“This is about bringing the UAE’s digital economy vision to life — standing with our leadership to prove that this nation isn’t just keeping pace, but setting the pace.”
Saeeda Jaffar, managing director of the Middle East, Turkey, Africa, and Pakistan at Circle, adds: “We are encouraged to see continued innovation across the UAE’s digital asset ecosystem and believe interoperability between regulated stablecoins can help support new opportunities for businesses operating globally.”
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