- Emirates NBD’s digital bank Liv launches cryptocurrency trading for UAE retail customers.
- The service offers trading of BTC, ETH, SOL, XRP, and ADA through collaboration with Aquanow.
- The initiative includes custody services from Zodia Custody, which received investment from Emirates NBD in late 2024.
Dubai‘s government-owned financial institution, Emirates NBD, has expanded into cryptocurrency services through its digital banking subsidiary Liv. The new offering allows UAE customers to trade major cryptocurrencies directly through the Liv X mobile application, marking a significant step toward mainstream crypto adoption in the region.
Launched on March 5, the service enables Liv bank customers to buy, hold, and sell five prominent cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP (XRP), and Cardano (ADA). The implementation comes through a strategic partnership with Aquanow, a licensed cryptocurrency service provider, as announced by both companies on March 6.
The custody component of Liv’s cryptocurrency service is powered by Zodia Custody, which secured a strategic investment from Emirates NBD in late 2024, ensuring secure storage of digital assets for customers.
Phil Sham, CEO of Aquanow, emphasized the significance of this development: “The launch of this offering with Emirates NBD marks a defining moment for digital assets in the UAE and beyond.”
Sham further noted that as a trusted regional financial institution embraces cryptocurrency, it signals a broader shift toward mainstream adoption. “This collaboration showcases how traditional banking and digital assets can coexist, providing consumers with seamless, secure, and compliant access to the evolving digital economy,” he added.
The move aligns with Emirates NBD’s innovation strategy in response to increasing cryptocurrency adoption throughout the United Arab Emirates. Marwan Hadi, the retail banking head at Emirates NBD, highlighted this alignment: “Offering cryptocurrency on Liv X is the next step toward the overall 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.”
This development represents a significant integration of traditional banking services with digital asset offerings in the region, potentially setting a precedent for other major financial institutions in the Middle East.
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