Dubai's Emirates NBD, one of the region's largest banks, has officially launched crypto trading for its customers through its digital banking app, Liv X. This marks a significant step in integrating crypto investments into mainstream banking.
A New Step for Dubai's Crypto Industry
Dubai is working towards becoming a global crypto hub, creating clear regulations that attract major exchanges like Binance, Crypto.com, and OKX. The entry of a government-owned bank into this space highlights the city's commitment to digital assets.
Partnerships for Safety and Compliance
To ensure a safe and compliant experience, Emirates NBD has partnered with Aquanow, a digital asset platform licensed by Dubai's Virtual Assets Regulatory Authority (VARA). Additionally, Liv has teamed up with Zodia, supported by Standard Chartered, to provide custody services, ensuring the safety of Liv's customers' cryptocurrencies.
Impact on Crypto Adoption
Emirates NBD's move into the crypto sphere could encourage more people in the UAE to access digital assets, potentially boosting further adoption and investment, and solidifying Dubai's reputation as a leader in crypto-friendly banking.
By launching crypto trading in Liv X, Emirates NBD is making digital assets more accessible than ever, paving the way for a new era of crypto-friendly banking in the UAE.
