Emirates NBD joins the digital asset space offering crypto via the Liv X App. With the introduction of a cryptocurrency offering within its mobile banking app, Liv X, Liv, the first and largest digital bank in the United Arab Emirates, established by Emirates NBD, a prominent banking group in the Middle East, North Africa, and Turkey (MENAT) region, has solidified its standing as a leader in innovation and quality.
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| Emirates NBD Joins Crypto |
Emirates NBD Joins The Digital Asset Space Offering Crypto Via The Liv X App
In collaboration with Aquanow, a global virtual asset service provider licensed by VARA, the new solution has been unveiled. Liv is dedicated to provide its clients with cutting-edge solutions, and its new cryptocurrency offering, which includes custody services from Zodia Custody and crypto infrastructure run by Aquanow, will provide consumers with an easy-to-use, simple, and effective experience.
The Liv X software will enable users to manage their daily finances and purchase, sell, and trade cryptocurrencies. Liv also adheres to strict security guidelines to facilitate safe transactions, giving clients even more peace of mind.
Emirates NBD Offers Crypto in UAE
Crypto activity in the UAE is still growing quickly thanks to a balance of rules as well as institutional and consumer interest. According to a survey conducted by International Financial Group Ltd., UAE citizens have been investing more in cryptocurrencies in an effort to produce returns that are resistant to inflation. According to the report, 10% of UAE citizens were interested in digital currencies, with Emiratis being the most enthusiastic. According to a Chainalysis research, the UAE received over USD 30 billion in cryptocurrency between July 2023 and June 2024, placing it in the top 40 countries in the world and making it the third-largest crypto economy in MENA.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, stated, "We are thrilled to debut our new cryptocurrency product on Liv X, in cooperation with Aquanow, which will allow users to purchase, sell, and trade cryptocurrencies conveniently and safely. Offering bitcoin on Liv X represents the next step toward Liv's overall vision of becoming a pioneer in innovation and excellence. With the UAE having the greatest rate of cryptocurrency acceptance, we are excited to introduce our own virtual asset offering to capitalize on this trend."
Aquanow's CEO, Phil Sham, stated, "We are thrilled to partner with a storied financial institution like Emirates NBD and excited to deliver our globally deployed crypto solutions to a regional audience. Our collaboration demonstrates the UAE's growth as a global crypto hub and serves as a model for how banks and fintechs can work together to create cutting-edge, safe, and seamless product propositions that benefit the retail client. Incumbent institutions such as Emirates NBD will play an important role in driving the next wave of digital asset adoption, and Aquanow is happy to be the leading crypto supplier chosen by financial institutions both in the GCC and around the world."