Latest news with #LivX
Arabian Post
09-07-2025
- Business
- Arabian Post
What the new Bitcoin bull market means for the UAE
With Bitcoin prices soaring past $100,000 again and investor optimism at a high, the UAE's strategic push into crypto is paying off. But what does this bull market really mean for the country's economy, its investors, and its long-term financial future? The UAE has spent the last few years laying the groundwork to become a global crypto capital. While some countries have struggled to regulate or simply banned crypto altogether, the UAE has leaned in. Financial free zones like Abu Dhabi Global Market (ADGM) and Dubai's Virtual Assets Regulatory Authority (VARA) have established clear, strict, but innovation-friendly rules. ADVERTISEMENT Exchanges like Bitpanda, and Rain all secured licenses and the money followed with billions in crypto investments flowing into the UAE during the last major bull run. Add in zero income tax on crypto gains, and it's easy to see why traders and startups are flooding in. Recent developments show that traditional finance continues to blend with Web3 in the UAE. Abu Dhabi recently approved Zodia Markets, a crypto brokerage backed by Standard Chartered and Emirates NBD has started rolling out digital asset support through its Liv X app. A 2024 study showed that the UAE now sees half a million daily crypto traders, a staggering 166% year-over-year increase. As values climb, so does the total volume of transactions, and with it, the growth of local crypto businesses and financial services. That means that people in the UAE can now use Bitcoin to pay for an impressive range of goods and services, from real estate and car rentals to clothing and online casinos. Indeed, Google search trends data indicates that worldwide interest in crypto betting sites has already doubled since Bitcoin fell into bear territory in late February 2025. It's not unusual to hear stories of families gifting Bitcoin during Eid or even paying property deposits in USDT. Digital assets are slowly becoming part of everyday life. What's coming next? Wealthy residents and expats are increasingly viewing Bitcoin as digital gold. With traditional markets still volatile, crypto is becoming a serious hedge. We can also expect to see more property developers and luxury brands accepting crypto payments. Several Dubai developers already do, and rising values make these transactions more attractive. This is one reason why demand is rising for crypto derivatives, exchange-traded funds (ETFs), and blockchain-based asset platforms. The Digital Dirham, expected to launch in 2025 could help to make digital payments smoother across these platforms and sectors. However, as exciting as a new Bitcoin bull market may be, it comes with risks. Volatility is still a major factor: Bitcoin may be flying high today, but it's had its share of sharp crashes so investors must stay smart and diversify. Cybersecurity is another concern. As more people store wealth digitally, protecting wallets and exchanges becomes more urgent. The UAE's regulators have strict rules, but private users still need to do their part. So far, the UAE's clarity and independence on cryptocurrency policy have helped it avoid the kind of whiplash seen in more reactive markets. However new US or EU laws could shift sentiment quickly. Thanks to years of planning, regulation, and investment, the UAE is a serious player in the global crypto space. Capital is flowing in, mainstream adoption is growing, and both government and private sectors are working together to build a lasting digital infrastructure. Whether you're a retail trader, a real estate developer, or just curious about crypto, the UAE is where the future of Bitcoin is being shaped. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
Yahoo
03-04-2025
- Business
- Yahoo
Regulation, openness, and a modern platform needed for legacy banks to embrace cryptos
Emirates NBD is tapping into the UAE's booming crypto scene by integrating a cryptocurrency trading service into its Liv X digital banking app. With crypto app downloads in the UAE increasing by 41% to 15 million in 2024, according to AppsFlyer, the Emirates NBD group is leveraging its established reputation and the country's favorable regulatory environment to capitalise on surging local interest and demand for cryptocurrency trading. GlobalData's 2024 Financial Services Consumer Survey shows the UAE is among the top countries for cryptocurrency ownership, with 44% of consumers holding crypto, an increase from 37% the year before. Meanwhile, the percentage of crypto holders who actively invest in the asset grew from 83% to 91% over the same period. Several factors have driven this surge in demand. Dubai's Virtual Asset Regulatory Authority (VARA) has positioned itself ahead of the curve in crypto regulation globally, as it issued its comprehensive virtual asset framework back in 2023 to foster innovation in cryptocurrencies within a safe regulated environment. The UAE recognised early on that regulation could provide the credibility that the crypto industry has struggled to establish elsewhere, the credibility that has since propelled Dubai to the status of global crypto hub. In response, a number of Web3 companies globally (primarily from India) started setting up shop in Dubai to leverage the regulatory environment for new crypto product and solution launches. Amid the influx of new crypto players, Emirates NBD holds a significant advantage with its latest trading solution. As the UAE's second-largest main banking provider with a 17% market share, as per GlobalData's Competitor Benchmarking Analytics 2024, it benefits from strong customer trust. UAE incumbents enjoy record-high levels of consumer confidence, with customers more likely to turn to their primary bank for financial support than in almost any other market. The Emirates NBD group made a strategic move in the digital banking era by launching Liv Bank in 2017, creating the country's first digital-only bank. It leveraged this separate digital-native platform to stay ahead of innovation with the introduction of novel features such as a gamified reward structure, and lifestyle tools and benefits. At the same time, Liv is backed by 60 years of the Emirates NBD group's established brand legacy, which induces trust among the wider population, even for some of the newest and potentially riskier financial trends, such as cryptocurrency trading. The UAE is now creating a blueprint for traditional financial institutions' crypto adoption journey that is being made possible by the proactive and timely regulation of the industry, combined with legacy institutions' openness and willingness to innovate and cater to the modern banking customer's demand. To avoid falling behind on a trend that is now undoubtedly here to stay, Western banks and regulators need to take note and acknowledge and cater to the population's crypto interest with urgency. Blandina Szalay is an analyst, Banking & Payments, at GlobalData "Regulation, openness, and a modern platform needed for legacy banks to embrace cryptos" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Khaleej Times
09-03-2025
- Business
- Khaleej Times
GCC crypto ecosystem gets closer to mainstream with new offering
The launch of a cryptocurrency offering by Emirates NBD's digital banking platform, Liv, marks a watershed moment for GCC crypto ecosystem, according to banking industry experts. As the UAE's second-largest bank by assets, Emirates NBD's entry into digital assets signals a strategic pivot toward mainstreaming blockchain-based finance. This move not only accelerates the UAE's ambitions to become a global crypto hub but also sets a precedent for financial innovation throughout the region. Emirates NBD's strategic move is expected to pressure regional peers to follow suit, potentially unlocking institutional capital. The GCC institutions currently manage around $2.1 trillion in assets, yet less than 5.0 per cent is linked to cryptocurrencies. Liv's framework — aligned with VARA's stringent anti-money laundering (AML) and counter-terrorism financing (CFT) protocols — provides a comprehensive blueprint for compliant crypto-fiat interoperability. This could encourage corporate treasuries and family offices to diversify their portfolios into digital assets In partnership with Aquanow, a global virtual asset service provider licensed by the Virtual Assets Regulatory Authority (VARA), Liv enables customers to buy, sell, and trade cryptocurrencies directly within its 'Liv X' app. This integration allows users to manage their day-to-day finances alongside their digital asset investments, creating a seamless banking experience. Custody services for the cryptocurrency assets are provided by Zodia Custody, ensuring that Liv adheres to robust security protocols. This commitment to security is crucial for building customer trust in a rapidly evolving financial landscape. Marwan Hadi, Emirates NBD's Group head of Retail Banking and Wealth Management, stated, 'Offering cryptocurrency on Liv X is the next step towards 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 capitalise on this trend.' The GCC's cryptocurrency market is projected to grow at a compound annual growth rate (CAGR) of 14.2 per cent through 2027. Liv's initiative could catalyse both institutional and retail adoption across the bloc. According to Statista, the number of users in the UAE's cryptocurrency market is expected to reach 3.78 million by 2025, with a user penetration rate projected to be 39.13 per cent. This growth underscores the increasing interest in digital assets among the population. Phil Sham, CEO of Aquanow, emphasised that the partnership with Liv exemplifies the UAE's emergence as a global crypto hub. He noted, 'This collaboration is a leading example of how banks and fintechs can work together to develop cutting-edge, secure, and seamless product propositions that truly benefit the retail customer.' Liv's user base, primarily composed of millennials and Gen Z, benefits from the bank's established reputation, which helps demystify cryptocurrency for these demographics. By integrating digital asset trading into everyday banking, Emirates NBD effectively lowers the entry barriers for risk-averse users. Last May, Liv Bank signed a deal to start offering tokenized real-world assets (RWAs) to its clients, viewing this as an essential path to wealth management for younger generations. Liv has also introduced innovative products, including Money Ahead Deposits that pay interest upfront, Goal Accounts with pre-defined rules for automated savings, Digital Gold Investment Accounts, and Cashback Cards offering up to Dh1,500 per month in rewards. These offerings position Liv as a market leader among digital banks in the region. The UAE has established itself as a regulatory trailblazer in the crypto space, founding the Virtual Assets Regulatory Authority (VARA) in 2022. The country ranks third globally in crypto adoption, with 27 per cent of residents owning digital assets. Dubai's proactive approach to blockchain regulation and innovation has attracted over 1,000 blockchain firms since 2020, including industry giants like Binance and CoinMENA. Liv's cryptocurrency offering complements this growth by enhancing retail liquidity. According to Chainalysis' Geography of Crypto Report 2024, the UAE experienced a 42 per cent year-on-year growth in crypto transactions, with total transactions amounting to $34 billion between July 2023 and June 2024. Experts suggest that the integration of mainstream banking could further amplify these transaction volumes.
Zawya
07-03-2025
- Business
- Zawya
Emirates NBD enters the digital asset space offering crypto on the Liv X App
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: +971 46094113 / +971 506538937 Email: ibrahims@ Burson Dubai, UAE Telephone: +971 44507600 Email: emiratesnbd@ 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 or contact: Luna PR Dubai, UAE Telephone: +971 504239431 Email: shubhi@
Bloomberg
06-03-2025
- Business
- Bloomberg
Dubai's Emirates NBD Launches Crypto Trading Through Digital Arm
The largest bank in Dubai has partnered with digital-assets firm Aquanow to start offering cryptocurrency services through its digital banking arm. Users of Emirates NBD 's digital bank Liv can now buy, sell and trade cryptocurrencies through the Liv X app, according to a statement.
