- Emirates’ NBD has launched crypto trading services in Dubai.
- The bank partnered with Aquanow to provide trading access on its Liv subsidiary platform.
- Dubai is renowned for its efforts in promoting crypto adoption.
Emirates NBD, a Dubai government-owned bank, has activated digital currency trading services through its subsidiary platform, Liv. According to reports, Liv has started allowing customers to buy and sell digital currencies via its new app, Liv X.
This move by Emirates NBD highlights Dubai’s progress in the region’s move to establish itself as a leader in the crypto industry. The city has been leading the way in making clear rules and allowing crypto service providers to get licenses to operate.
Dubai’s Crypto-Friendly Regulations Attract Major Players
Top crypto exchanges like Binance, Crypto.com, and OKX have gained licenses to operate in the region following Dubai’s friendly laws. Emirates NBD is partnering with Aquanow, a digital assets platform licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). The bank will use the latter’s infrastructure while adopting Standard Chartered-backed Zodia for custodial purposes.
Related: Dubai Tightens Crypto Rules: Whale Disclosure Mandated
Aquanow CEO Phil Sham described the latest development as a defining moment for digital assets in the UAE and beyond. Sham considers Emirates NBD’s latest move a crucial signal to a broader shift toward mainstream adoption.
Traditional Banking Meets Digital Assets in Dubai
Furthermore, Sham noted that the collaboration between his firm and the national bank highlights how traditional banking and digital assets coexist. According to Sham, the partnership will provide customers with seamless, secure, and compliant access to the emerging digital economy.
Related: Dubai’s Virtual Assets Regulator Cracks Down on MKAN Coin for Illegal Operations
At the same time, Emirates NBD’s retail banking head, Marwan Hadi, said his group is dedicated to innovation as crypto adoption grows in the UAE. As of March 5, the newly launched platform allows Emirates NBD’s customers to trade five crypto assets, which are Bitcoin, ETH, XRP, SOL, and ADA.
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