Clients of Dubai largest bank can now trade cryptocurrency
Emirates NBD Initiative
Emirates NBD, the largest bank in Dubai, has announced a partnership with Aquanow, a company specializing in digital assets. This collaboration allows the bank to offer cryptocurrency services through its digital platform.
According to Bloomberg, users of Liv, Emirates NBD’s digital bank, can now buy, sell, and trade cryptocurrencies via the Liv X app, as stated in the official announcement.
This move signals a deeper push by banks into digital assets, especially amid the recent market surge. In January, Bitcoin surpassed $100,000, prompting major financial institutions to accelerate their adoption of cryptocurrency services.
A global trend
Italy’s largest bank, Intesa Sanpaolo SpA, recently made its first spot Bitcoin purchase, while Swiss-based PostFinance AG expanded its services in January by adding Ethereum staking.
"With the UAE having one of the highest crypto adoption rates, we are eager to launch our own virtual asset offering to capitalize on this trend," said Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD.
Liv’s crypto services are powered by Aquanow, which is licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). Digital asset custody is provided by Zodia Custody, a subsidiary of Standard Chartered Plc.
Meanwhile, the United Arab Emirates (UAE) is positioning itself as a global leader in blockchain-based asset tokenization.
