Emirates NBD Enters Cryptocurrency Space with Liv X App

Emirates NBD’s digital banking unit, Liv, has introduced cryptocurrency trading on its mobile banking app, Liv X, in partnership with Aquanow, a Dubai-licensed virtual asset service provider. London-based Zodia Custody, in which Emirates NBD holds a strategic investment, will provide custody services for the venture.

The new feature allows Liv X users to buy, sell, and trade cryptocurrencies while managing their day-to-day finances. The UAE, with one of the highest cryptocurrency adoption rates globally, is rapidly emerging as a crypto hub. About 30% of the population owns cryptocurrency, and the market is expected to grow by 8% annually over the next four years.

Between July 2023 and June 2024, the UAE received over $30 billion in crypto transactions, ranking it among the top 40 globally and third in the MENA region.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, stated, “We’re excited to offer cryptocurrency trading on Liv X, providing customers with a secure and convenient way to engage with digital assets. This aligns with Liv’s vision of innovation and excellence.”