Zand Expands Stablecoin Infrastructure with USDC Support in UAE

Zand,  an AI and blockchain-powered digital bank in the United Arab Emirates (UAE), announced plans to expand its stablecoin infrastructure capabilities through support for USDC, issued by regulated entities of Circle Internet Group, Inc. (NYSE: CRCL). The initiative aims to support use cases, including payments, settlement, treasury operations, trading, and cross-border transactions, and enable eligible businesses to leverage both the Zand Dirham stablecoin and USDC within applicable legal and regulatory frameworks, supporting a seamless corridor for moving value across digital financial ecosystems.

The Zand Dirham stablecoin is the UAE’s first fully regulated multi-chain Dirham-backed stablecoin on public blockchains, and is fully backed 1:1 by Dirham reserves.

USDC is a fully-reserved payment stablecoin redeemable 1:1 for US dollars, subject to applicable terms, conditions and regulatory requirements.Rated BBB+ by Fitch Ratings, and backed by an Abu Dhabi ruling family-owned investment arm, Franklin Templeton, Aditya Birla Group (through Solfrid Investments), and top-tier business leaders Mohamed Alabbar and Yusuff Ali, Zand combines institutional-grade trust with deep regional and global expertise.

“We built the Zand Dirham stablecoin to tear down the walls between global markets, making cross-border payments feel instant, invisible, and effortless. We’re not just upgrading payments; we’re reconnecting the world’s money in real-time, so value moves as fast as an idea. But this is bigger than technology. 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.”

– Michael Chan, CEO, Zand 

“The continued evolution of regulated stablecoin ecosystems reflects growing demand for more efficient ways to support payments, settlement, and treasury operations. 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.”

– Dr. Saeeda Jaffar, Managing Director, Middle East, Turkey, Africa and Pakistan, Circle

Growing demand for regulated stablecoins that connect domestic and international financial ecosystems may create opportunities for businesses to transfer value more efficiently while enabling programmable financial services, subject to regulatory, and market conditions.

According to published industry forecasts, the stablecoin market may exceed $1 trillion in 2026, driven by increased adoption for transactions, the expansion of decentralized finance, and rising institutional interest. Stablecoin technologies are expected to play an integral role in the UAE’s Digital Economy Strategy, which aims to double the digital economy’s contribution to non-oil GDP by 2032.