Dubai’s Largest Bank Embraces Crypto with Liv X

Dubai’s largest bank, Emirates NBD, has officially entered the cryptocurrency space by teaming up with digital-assets firm Aquanow, reports Bloomberg. This collaboration enables users of its digital banking arm, Liv, to seamlessly buy, sell, and trade cryptocurrencies through the Liv X app.

This move signals a broader trend of financial institutions deepening their involvement in digital assets. Bitcoin recently soared to an all-time high of $109,241 on January 20, and other major banks, including Italy’s Intesa Sanpaolo SpA and Switzerland’s PostFinance AG, have been expanding their crypto offerings.

“With the UAE boasting the highest crypto adoption rate, we are excited to introduce our own virtual asset services to meet this growing demand,” said Marwan Hadi, Group Head of Retail Banking & Wealth Management at Emirates NBD. Liv’s crypto services are backed by Aquanow, which operates under Dubai’s Virtual Assets Regulatory Authority, with Zodia Custody, an affiliate of Standard Chartered, handling custody.

The broader crypto market has been energized by the pro-crypto stance of U.S. President Donald Trump, who recently signed an executive order supporting the industry. However, his suggestion of adding lesser-known tokens to a strategic crypto reserve has sparked some skepticism, leading to market volatility.