Emirates NBD a major bank owned by the Dubai government has unveiled a groundbreaking move in the financial technology sector with the launch of Liv X its new mobile banking app dedicated to cryptocurrency trading. This innovative platform is leveraging the technical prowess of Aquanow a digital asset platform licensed by Dubai’s Virtual Assets Regulatory Authority (VARA).

Dubai has been strategically positioning itself as a global center for cryptocurrency aligning with its vision to pioneer economic innovation. The region’s clear regulatory frameworks have attracted major exchanges like Binance Crypto.com and OKX which have all secured approvals to operate within this vibrant crypto hub.

In a significant collaboration Liv will utilize the infrastructure of Aquanow for its cryptocurrency transactions while Zodia a venture backed by Standard Chartered will provide crucial custody services. This move underscores Dubai’s commitment to integrating cutting-edge technology within its banking sector setting a robust example for global financial systems.

Bloomberg