In a move that underscores Dubai’s ambition to become a global cryptocurrency hub, Emirates NBD, the government-owned banking titan, has unveiled a new feature through its digital subsidiary, Liv. This initiative allows users to seamlessly buy and sell cryptocurrencies via the newly launched Liv X app.
Dubai has been steadily positioning itself as a leader in the crypto space, establishing clear regulatory frameworks that have attracted major exchanges like Binance, Crypto.com, and OKX. Emirates NBD’s foray into crypto trading through Liv X is a testament to the city’s progressive stance on digital assets.
The Liv X app offers users the ability to trade five major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP (XRP), and Cardano (ADA). This selection caters to both seasoned investors and newcomers, providing a diverse range of options within the crypto market.
To ensure a secure and efficient trading experience, Liv has partnered with Aquanow, a digital asset platform licensed by Dubai’s Virtual Assets Regulatory Authority (VARA). Aquanow’s infrastructure underpins the crypto services offered on the Liv X app, ensuring compliance with local regulations and industry best practices.
In addition to trading capabilities, Liv has prioritized the security of its users’ assets by collaborating with Zodia Custody for custody services. Zodia, backed by Standard Chartered, brings a wealth of experience in safeguarding digital assets, adding an extra layer of trust for Liv’s clientele.
Marwan Hadi, Emirates NBD’s Group Head of Retail Banking and Wealth Management, emphasized the bank’s commitment to innovation, stating that the introduction of cryptocurrency services aligns with Liv’s vision of pioneering excellence. He noted that with the UAE’s high crypto adoption rate, launching a virtual asset offering is a strategic move to capitalize on this trend.
This development not only reflects Emirates NBD’s dedication to meeting evolving customer needs but also highlights Dubai’s broader strategy to integrate digital assets into its financial ecosystem. As more residents and institutions embrace cryptocurrencies, the city’s reputation as a forward-thinking financial hub is further solidified.
For users, the Liv X app represents a convenient and secure gateway into the world of cryptocurrencies, backed by the reliability of one of the region’s most esteemed banks. As the digital asset landscape continues to evolve, Emirates NBD’s proactive approach ensures its customers are well-equipped to navigate the burgeoning crypto market.
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