Dubai’s Banking Giant Emirates NBD Ushers in a New Era with Crypto Trading on Liv X

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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 major step in bringing crypto investment into mainstream banking, allowing users to buy and sell digital assets directly from their accounts. The news was shared in an email announcement on Thursday, marking a big move for the bank.

A Big Move for Dubai’s Crypto Hub

Dubai has been working toward becoming a global crypto hub, creating clear regulations that attract major exchanges like Binance, Crypto.com, and OKX. Now, with a government-owned bank entering the space, it shows the city’s commitment to digital assets. Marwan Hadi, the bank’s Group Head of Retail Banking & Wealth Management, stated that with the country’s high adoption rate, the bank is keen to launch its own virtual asset offering.

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). This provides a secure infrastructure for users trading through Liv X. Additionally, Liv has teamed up with Zodia, a company supported by Standard Chartered, to ensure the application’s extra security. Zodia provides custody services, meaning it safely stores cryptocurrencies for Liv’s customers. The partnership adds trust and protection to the new crypto trading feature.

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What This Means for Crypto Adoption

With a major traditional bank offering crypto services, more people in the UAE will have easy access to digital assets. This could encourage further adoption and investment, solidifying Dubai’s reputation as a leader in crypto-friendly banking. Emirates NBD’s move might also push other banks in the region to explore similar offerings, accelerating the integration of crypto into everyday finance.

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.