Dubai's largest bank Emirates NBD launches cryptocurrency trading service

Emirates NBD, one of the largest banks in Dubai, has launched a cryptocurrency trading service through its digital banking platform Liv. Users can now buy, sell, and trade cryptocurrencies on the Liv X app. The service is supported by Aquanow, a local digital asset company authorized by the Dubai Virtual Asset Regulatory Authority, with custody services provided by Zodia Custody, a subsidiary of Standard Chartered Bank.

This move highlights the increasing interest of financial institutions in digital assets, following the recent announcement of Ethereum staking services by Swiss PostFinance AG and the completion of the first bitcoin spot purchase by Intesa Sanpaolo in Italy. (Bloomberg)