Dubai's largest bank, Emirates NBD, has partnered with digital-assets firm Aquanow to introduce cryptocurrency services through its digital banking arm, Liv. This move allows users of Emirates NBD's digital bank, Liv, to buy, sell, and trade cryptocurrencies via the Liv X app, marking the latest instance of banks expanding into the digital-assets arena.

Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, stated, "With the highest crypto adoption rate in the UAE [United Arab Emirates], we are keen to launch our own virtual asset offering to capitalise on this trend." Aquanow, licensed by Dubai’s Virtual Assets Regulatory Authority, powers Liv’s crypto services, while Zodia Custody, an affiliate of Standard Chartered plc, provides custody services.

The crypto market has experienced a boost in recent months, influenced by the pro-crypto stance of President Donald Trump, who signed an executive order supporting the US industry in January. However, his comments regarding the inclusion of lesser-known tokens in a strategic cryptocurrency reserve faced skepticism, triggering a selloff. As of 10.32am in London on Thursday, Bitcoin was trading at US$91,520.

This development follows similar moves by other financial institutions, such as Intesa Sanpaolo SpA in Italy, which recently made its first spot Bitcoin purchase, and Switzerland’s PostFinance AG, which expanded its digital-asset offering to include Ether staking in January. These actions indicate a growing trend of established banks integrating digital assets into their service offerings.