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Dubai Emirates NBD Bank Launches Crypto Trading Services

Dubai Emirates NBD bank, via its Liv subsidiary, launches crypto trading services in collaboration with Aquanow.
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Dubai Emirates NBD Bank Launches Crypto Trading Services

Highlights

  • Dubai Emirates NBD bank offers crypto services via Liv, in collaboration with Aquanow.
  • This aligns with Dubai's vision of becoming a global crypto hub.
  • The launch signals a broader mainstream adoption of cryptocurrencies.

In a surprising development, Emirates NBD bank, owned by the Dubai government, is making its footsteps in the crypto market. The Dubai government-owned bank has taken the initiative to offer crypto services via its digital bank subsidiary Liv.

Through its subsidiary Liv, customers can now buy, hold, and sell digital assets directly on the Liv X app, thanks to a partnership with Aquanow, a licensed crypto service provider.

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Dubai Emirates NBD Bank Offers Crypto Services

According to a recent Bloomberg report, Dubai’s Emirates NBD bank offers crypto trading services. Aligning with the city’s crypto-focused endeavors, the government-owned bank has begun providing crypto trading services to clients on March 5, 2025.

Notably, Dubai Emirates NBD bank collaborates with licensed crypto service provider Aquanow to offer crypto services via its branch Liv. Additionally, Liv’s crypto services include custody solutions provided by Zodia Custody, which received a strategic investment from Emirates NBD in late 2024.

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Emirates NBD Bank Fosters UAE’s Crypto Vision

Significantly, Emirates NBD’s groundbreaking decision to embrace crypto highlights the United Arab Emirates broader focus of digital assets. Aquanow CEO Phil Sham stated, “The launch of this offering with Emirates NBD marks a defining moment for digital assets in the UAE and beyond.”

In addition, this development underscores the potential growth of mainstream adoption. Emirates NBD’s collaboration with Aquanow also showcases the coexistence of traditional banks and crypto.

Moreover, Marwan Hadi, Head of Retail Banking at Emirates NBD, emphasized the group’s dedication to innovation, citing the growing demand for cryptocurrencies in the UAE. He added,

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.

Notably, this development comes following the Bank of America’s statement on the potential launch of stablecoin offering. BoA CEO Brian Moynihan stated that the bank may start offering stablecoins upon receiving regulatory approval.

Dubai’s Vision of Establishing a Crypto Hub

Dubai has been actively working to position itself as a leading global cryptocurrency hub. The city’s status as a Middle Eastern business hub has solidified its position as the region’s top cryptocurrency hub. Emirates NBD bank’s recent decision to offer crypto services is an example for Dubai’s crypto-focused approach.

This growth is in line with the UAE’s Vision 2030, aiming to reduce dependence on oil, foster technological innovation, and become a global digital economy leader. The country’s forward-thinking policies, favorable business environment, and targeted investments are driving this strategic transformation.

For instance, its latest development of Crypto Tower reflects the city’s vision. The Crypto Tower will feature blockchain-integrated systems, enabling seamless and secure interactions and transactions for its tenants.

Similar to Dubai, Hong Kong is another city that aspires to become a global lead in the crypto industry. Recently, Hong Kong legislator Johnny Ng pinpointed the need to speed up the city’s strategic Bitcoin reserve plan.

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Nynu V Jamal

Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape. Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master's degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet. Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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