Emirates NBD enters the digital asset space offering crypto on the Liv X App

Zawya

07-03-2025

Dubai, UAE: Liv, UAE's first and largest digital bank launched by Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has consolidated its position as a pioneer of innovation and excellence with the launch of a cryptocurrency offering within its mobile banking app – Liv X. The new offering has been introduced in partnership with Aquanow, a global virtual asset service provider licensed by VARA.
Liv is committed to introducing innovative products to its customers and this new cryptocurrency offering, with crypto infrastructure operated by Aquanow and custody services performed by Zodia Custody, will give users an intuitive experience that is straightforward and efficient to use. Customers will be allowed to buy, sell and trade cryptocurrencies within the Liv X app, whilst also managing their day-to-day finances. Additionally, Liv follows robust security protocols to enable secure transactions, providing further assurance to customers.
The UAE continues to see rapid growth in crypto activity, driven by a balance of regulations, and institutional and consumer interest. A survey by the International Financial Group Ltd suggests that UAE residents have been increasingly investing in cryptocurrencies to generate inflation-resistant returns. The report found that one in ten UAE residents displayed an appetite for digital currencies, with Emiratis showing more interest. Between July 2023 and June 2024, a Chainalysis report estimates the UAE received over USD 30 billion in crypto, ranking the country among the top 40 globally in this regard and making it MENA's third-largest crypto economy.
Phil Sham, Chief Executive Officer, Aquanow, said: 'We are proud to partner with a storied financial institution in Emirates NBD, and excited to bring our globally deployed crypto solutions to a regional audience. Our partnership is a testament to the UAE's emergence as a global crypto hub and is a leading example of how banks and fintech's can collaborate to develop cutting edge, secure, and seamless product propositions that truly benefit the retail customer. Incumbent institutions like Emirates NBD will play a pivotal role in driving the next wave of digital asset adoption and Aquanow is proud to be the leading crypto provider chosen by financial institutions both here in the GCC and globally.'
Liv offers many first-in-the-region products among digital banks, including Money Ahead Deposits which pay interest upfront, Goal Accounts with pre-defined rules that automate savings, Digital Gold Investment Accounts and the recently introduced Cashback Cards offering AED 1,500 per month in rewards are some of the important additions to Liv's product portfolio positioning it ahead of the market.
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st December 2024, total assets were AED 997 billion, (equivalent to approx. USD 271 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 848 branches and 4,601 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.87 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: [phone]
Email: [e-mail]
Burson
Dubai, UAE
Telephone: [phone]
Email: [e-mail]
About Aquanow
Aquanow is a leading institutional digital asset platform, powering fast-growing banks, neobanks, brokerages, and payment companies. The company operates technology infrastructure and underwrites billions of dollars in monthly crypto brokerage and payment transactions. Established in 2018, Aquanow employs over 125 team members across offices worldwide. In 2024, for the second consecutive year, Aquanow was recognized on the Deloitte Technology Fast 500 list, achieving a four-year revenue growth rate of 3,022%.
For further information on Aquanow, please visit www.aquanow.com, or contact:
Luna PR
Dubai, UAE
Telephone: [phone]
Email: [e-mail]