Emirates NBD, a Dubai government-owned bank, is offering new cryptocurrency services through its digital bank subsidiary Liv.
Liv bank has enabled its customers to buy, hold and sell cryptocurrencies on its Liv X app in collaboration with Aquanow, a licensed crypto asset service provider, the companies said in a joint announcement on March 6.
Introduced on March 5, the offering enables retail Liv clients in the United Arab Emirates to trade five major crypto assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP) and Cardano (ADA), a spokesperson for Aquanow told Cointelegraph.
Liv’s crypto service offering also features custody services by Zodia Custody, which secured a strategic investment from Emirates NBD in late 2024.
A shift toward mainstream crypto adoption in the UAE
“The launch of this offering with Emirates NBD marks a defining moment for digital assets in the UAE and beyond,” Aquanow CEO Phil Sham told Cointelegraph.
As one of the region’s most trusted financial institutions embraces crypto, it signals a broader shift toward mainstream adoption, Sham noted, adding:
“This collaboration showcases how traditional banking and digital assets can coexist, providing consumers with seamless, secure, and compliant access to the evolving digital economy.”
Emirates NBD’s retail banking head, Marwan Hadi, highlighted the group’s commitment to innovation in the context of increasing crypto adoption in the country.
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“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,” he said.
Emirates NBD’s growing interest in Bitcoin
The introduction of cryptocurrency trading by Emirates NBD’s Liv bank aligns with Emirates NBD’s growing interest in Bitcoin and blockchain technology in recent years.
In addition to educating its customers about basic cryptocurrency terms like Bitcoin, decentralized finance and blockchain, Emirates NBD has also experimented with various blockchain tech applications.
In 2017, Emirates NBD tested a blockchain-based anti-fraud bank cheque system in collaboration with the Central Bank of the UAE.
The bank’s fresh entrance into retail crypto trading services comes amid a massive crypto adoption in the UAE, with local crypto app downloads surging 41% in the past year.
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