Dubai – Zand, an innovative AI-powered Fintech and financial services group in the UAE, has announced that it has been assigned an investment grade credit rating of BBB+, with a stable outlook, from Fitch Ratings.
Zand CEO Michael Chan stated, “We believe Zand is the world’s youngest bank to achieve an investment grade credit rating, and we are honored and humbled to receive this recognition from Fitch Ratings. As a start-up in the development phase, Zand has experienced rapid growth since becoming a fully licensed bank three years ago. We achieved breakeven in less than two years, being the key contributor to enable virtual asset service providers and Fintech in the UAE, and are empowering clients to unlock growth opportunities, and thrive in the digital transformation age. This is a validation of our strategy and a testament to the strength of our team, our shareholders, and the supportive regulatory environment of the UAE.”
About Zand Bank
Licensed by the Central Bank of the UAE and rated BBB+ investment grade by Fitch Ratings, Zand is an AI-powered bank founded to support the digital economy and bridge the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi).
Our mission is to revolutionize the world of finance by leveraging AI, Blockchain Technology, and client-centric solutions to empower corporate, institutional, fintech, and wealth clients to thrive in the evolving digital economy.
Our purpose is to empower innovators, ambitious leaders, and bold pioneers to shape the future of finance and unlock new opportunities for success. Zand combines the speed and flexibility of a fintech, with the security and strength of a fully licensed bank.
Zand, the AI-powered bank for the digital economy.
For more information, please visit www.zand.ae. For media inquiries, please email: [email protected]