Emirates NBD, a bank owned by the government of Dubai, has officially entered the cryptocurrency market by offering trading services through its digital banking subsidiary Liv.
Launch of Crypto Trading on Liv X
Liv customers will now be able to buy and sell cryptocurrencies through the newly launched Liv X app. The service is powered by Aquanow, a digital asset platform licensed by Dubai’s Virtual Assets Regulatory Authority (VARA), while Zodia, a Standard Chartered-backed firm, provides custody services.
Dubai’s Growing Crypto Ecosystem
Dubai has been actively positioning itself as a global crypto hub by creating clear regulatory frameworks to attract digital asset firms. This approach has seen major exchanges such as Binance, Crypto.com, and OKX gain approval to operate in the region.
Significance for Emirates and Crypto Space
Emirates NBD’s decision to enter the crypto space marks a significant milestone as it becomes the first Dubai government-owned bank to offer digital asset trading. The move reflects the growing institutional adoption of cryptocurrencies in the United Arab Emirates (UAE). With Liv X, Emirates NBD aims to provide its customers with a seamless, secure and regulated platform for crypto transactions. The collaboration with Aquanow and Zodia ensures compliance with Dubai’s regulatory standards, giving users confidence in the safety of their assets.
As more traditional financial institutions embrace digital assets, Emirates NBD’s entry into crypto trading further strengthens Dubai’s ambition to become a leading hub for blockchain innovation and investment.
