Summary: Dubai’s biggest bank, Emirates NBD, now lets customers of its digital bank, Liv, trade crypto via the Liv X app. Partnering with Aquanow, a VARA-approved firm, the move taps into the UAE’s booming crypto market.
As world banks jump on the crypto bandwagon, Italy’s Intesa Sanpaolo recently made its first-ever Bitcoin buy and Switzerland’s PostFinance AG began Ethereum staking. Bitcoin’s rollercoaster, peaking at $109,241 and then dropping to $91,520, fuels the frenzy.
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Liv’s crypto platform is driven by Aquanow technology, and assets are held by Zodia Custody. As the Dubai crypto market picks up, regulations tighten to protect investors.
Emirates NBD has entered the crypto space, allowing Liv customers to buy, sell, and swap cryptocurrencies on the Liv X app. Joining forces with Dubai VARA-approved digital asset company Aquanow, the bank is hoping to catch the UAE’s high level of crypto adoption.
Banks globally are also taking note. Italy’s Intesa Sanpaolo recently bought Bitcoin, and Switzerland’s PostFinance AG introduced Ethereum staking.
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Bitcoin’s surge to $109,241 on Jan. 20, and then the drop to $91,520, has been keeping traders on the edge. In the meantime, Dubai regulators are clamping down on crypto advertisements to protect investors.
As major banks are opening their doors to cryptocurrency, mainstream adoption is more of a reality than ever before. Will more banks join the bandwagon?
