Emirates NBD Takes a Bold Step into the Cryptocurrency Arena
Emirates NBD has launched a new cryptocurrency offering, enhancing its digital finance capabilities through a partnership with Aquanow, a globally recognized virtual asset service provider licensed by Dubai’s Virtual Assets Regulatory Authority. This innovative initiative marks a significant step in the UAE’s journey to becoming a major crypto hub.
About the New Cryptocurrency Offering
With the introduction of this new feature, users of the Liv X app will now be able to buy, sell, and trade cryptocurrencies while also managing their everyday finances seamlessly. This integration not only simplifies access to digital assets but also exemplifies Emirates NBD’s commitment to innovation in financial services.
Custody Services by Zodia
To ensure the security of digital assets, Emirates NBD has partnered with Zodia Custody, a London-based digital asset custodian. This collaboration follows Emirates NBD’s strategic investment in Zodia Custody made in December, further solidifying the bank’s position in the cryptocurrency space.
The UAE’s Crypto Landscape
The United Arab Emirates is rapidly transforming into a progressive cryptocurrency hub, propelled by crypto-friendly policies and significant adoption rates. Notably:
- Approximately 30% of the UAE population owns cryptocurrency.
- The crypto market is projected to grow by 8% annually over the next four years.
- According to a Chainalysis report, the UAE received over $30 billion in crypto from July 2023 to June 2024, placing it among the top 40 countries globally.
- The UAE ranks as MENA’s third-largest crypto economy.
Insights from Emirates NBD
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, expressed enthusiasm about the new cryptocurrency offering. He stated, “We are excited to introduce our new cryptocurrency offering on Liv X, in partnership with Aquanow, giving customers the opportunity to buy, sell, and trade cryptocurrencies conveniently and securely. Offering cryptocurrency on Liv X is the next step towards our vision of Liv being a pioneer in innovation and excellence. With the highest crypto adoption rate in the UAE, we are keen to launch our own virtual asset offering to capitalize on this trend.”
For more information on cryptocurrency trends and developments in the UAE, visit
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