Liv, the UAE’s first digital bank launched by Emirates NBD, has introduced a cryptocurrency service within its mobile banking app, Liv X.
This offering has been developed in partnership with Aquanow, a global virtual asset service provider licensed by VARA.
The new service allows users to buy, sell, and trade cryptocurrencies directly within the Liv X app while managing their daily finances.
Crypto infrastructure is operated by Aquanow, with custody services provided by Zodia Custody.
Liv has also implemented security measures to ensure secure transactions.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, 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.”
Phil Sham, Chief Executive Officer of Aquanow, said:
“Our partnership is a testament to the UAE’s emergence as a global crypto hub and is a leading example of how banks and fintechs 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 several digital banking products, including Money Ahead Deposits, which pay interest upfront, Goal Accounts with automated savings features, Digital Gold Investment Accounts, and Cashback Cards providing up to AED 1,500 in monthly rewards.
Featured image credit: edited from freepik
