Dubai’s largest bank, Emirates NBD, has partnered with digital-assets firm Aquanow to introduce cryptocurrency trading through its digital banking arm, Liv. As a result, users can now buy, sell, and trade cryptocurrencies via the Liv X app. This development reflects the growing demand for digital assets in the UAE and the increasing role of banks in the crypto space.
Over the past few months, institutional interest in cryptocurrencies has surged. Bitcoin recently hit a record high of $109,241 on January 20. Due to this momentum, global banks have been expanding their crypto services. For instance, Italy’s Intesa Sanpaolo SpA completed its first spot Bitcoin purchase, while Switzerland’s PostFinance AG began offering Ether staking in January.
Emirates NBD: Capitalizing on the UAE’s High Crypto Adoption Rate
Marwan Hadi
Group Head of Retail Banking and Wealth Management at Emirates NBD
“With the highest crypto adoption rate in the UAE, we are keen to launch our own virtual asset offering to capitalize on this trend,” said Marwan Hadi.
To ensure secure transactions, Liv’s crypto services are powered by Aquanow, which operates under Dubai’s Virtual Assets Regulatory Authority. Additionally, Zodia Custody, an affiliate of Standard Chartered Plc, will handle secure asset storage.
Crypto Market Trends and Global Developments
The cryptocurrency market has been gaining momentum, largely due to U.S. President Donald Trump’s pro-crypto stance. In January, he signed an executive order aimed at strengthening the digital asset industry. However, his recent proposal to include lesser-known tokens in a strategic reserve faced skepticism, leading to a brief market selloff.
As of Thursday morning, Bitcoin was trading at $91,520 in London. While market fluctuations continue, Emirates NBD’s latest move reinforces Dubai’s position as a global leader in digital asset adoption. With banks increasingly embracing cryptocurrencies, the financial sector is moving closer to full integration with blockchain technology.
