Michael Chan

As the CEO of Zand, Michael’s visionary leadership has steered the bank towards innovation and exponential growth, cementing it’s position as a vital catalyst for the digital economy by bridging the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi). By leveraging innovation, AI, and blockchain technology, Zand has held steadfast in its mission is to empower corporates, institutions, fintechs, and wealth clients to thrive in the digital age.

Since taking the helm as CEO of Zand in July 2022, Michael has shifted Zand’s focus from retail to mid-large corporate and wealth clients, specializing in digital assets. In 2024, Micheal led Zand to secure a VARA license and launched its Digital Asset Custody services, making it the first bank in the UAE to offer institutional-grade digital asset custody alongside its banking license. This milestone not only marked a defining moment for Zand but also set a new standard for the future banking, merging traditional banking expertise with blockchain innovation.

Under Micheal’s leadership, Zand has moved with the ethos and agility of a fintech, achieving exponential growth, including a 6x increase in corporate lending and reaching a monthly breakeven within two years. The bank has also diversified its liquidity management portfolio and signed key Memorandums of Understandings with ADGM, Dubai Land Authority, and other leading financial services companies.

Zand launched its Next Gen Banking platform within 90 days, featuring full API integration and 100% cloud-native architecture. This platform has forged over 30 strategic partnerships with leading fintech firms, driving innovation and growth in the financial services sector.

Michael’s leadership and strategic initiatives have positioned Zand as a trailblazer in the banking and fintech space, committed to innovation and excellence in serving its clients.