Emirates NBD, Dubai’s state-owned financial institution, has began providing crypto buying and selling providers via its digital financial institution subsidiary, Liv Financial institution. A key issue driving that is the elevated curiosity of millennials and Gen Z in various belongings, together with personal fairness, personal debt, actual property, and infrastructure.
Huge information: At present, we’re very excited to announce that we have partnered with @EmiratesNBD_AE to energy crypto buying and selling on their Liv X app!
Emirates NBD is a number one banking group within the Center East, North Africa and Türkiye (MENAT) area, with whole belongings of roughly USD…
— Aquanow (@aquanow) March 6, 2025
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Liv Financial institution Expands Into Crypto, Buying and selling and Custody Companies Now Reside on Liv X Platform
On 5 March 2025, the digital financial institution launched crypto buying and selling options, enabling retail Liv purchasers within the UAE to commerce 5 main cryptocurrencies, together with Bitcoin, Ether, Solana, XRP, and Cardano.
Aquanow CEO Phil Sham mentioned, “The launch of this providing with Emirates NBD marks a defining second for digital belongings within the UAE and past.”
Liv additionally offers custody providers to its customers via Zodia Custody on its Liv X app. Notably, Emirates NBD made a strategic investment within the firm in late 2024.
Marwan Hadi, Emirates NBD’s group head, retail banking and wealth administration mentioned, “Providing cryptocurrency on Liv X is the subsequent step in direction of the general imaginative and prescient of Liv being a pioneer in innovation and excellence.”
Liv Financial institution experimented with crypto final Might when it began providing tokenised real-world belongings (RWA) to its purchasers in partnership with tokenisation agency Ctrl Alt.
Again then, Hadi mentioned, “Liv is the primary financial institution within the UAE to discover providing tokenised real-world asset investing alternatives to prospects, and we’re delighted to co-partner with a number one infrastructure supplier resembling Ctrl Alt for this initiative.”
Emirates NBD’s Evolving Crypto Technique
Emirates NBD’s broader curiosity in Bitcoin and blockchain expertise aligns with Liv Financial institution’s introduction of crypto buying and selling. The father or mother financial institution has beforehand experimented with blockchain and its purposes for its enterprise, notably commerce financing.
Emirates NBD beforehand labored with the Dubai Chamber of Commerce on a commerce finance blockchain in 2019. Not too long ago, Emirates NBD has been prioritising tokenised deposits for cross-border funds. The financial institution has partnered with Partior, a DLT-based funds community based by DBS Financial institution, JP Morgan, Commonplace Chartered and Temasek, to facilitate cross-border funds.
Partior and Emirates NBD are focusing their collaboration on exploring potential involvement reasonably than making a agency dedication. Nevertheless, if it strikes ahead, Emirates NBD would function a community settlement financial institution for the UAE Dirham, Saudi Riyal, and Indian Rupee. Moreover, it could act as a participant financial institution for different currencies, leveraging the community’s banks to facilitate instantaneous cross-border funds for its purchasers.
The financial institution’s newest foray into retail crypto buying and selling comes at a time when the crypto sector within the UAE is witnessing huge adoption, with native crypto app downloads seeing a 41% increase final yr.
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Key Takeaways
- Liv Financial institution launches crypto buying and selling and custody providers with Aquanow and Zodia Custody.
- Millennials and Gen Z drive retail investments in digital belongings within the UAE
- UAE’s crypto adoption surges, with native crypto app downloads rising by 41% final yr.
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