The Dubai government-owned bank, Emirates NBD, has launched cryptocurrency trading services through its digital banking platform Liv. The new service is available on the Liv X app, allowing customers to buy and sell digital assets.
According to the official statement, this move aligns with Dubai's strategy of positioning itself as a global crypto hub. In recent years, the city has implemented clear regulatory frameworks for cryptocurrency businesses, enabling major exchanges like Binance, Crypto.com, and OKX to obtain operational licenses in the region. Now, Dubai's government bank is embracing the crypto market by offering direct access to digital assets for its clients.
How the New Service Works
The announcement states that Liv utilizes the technological infrastructure of Aquanow, a firm licensed by the Dubai Virtual Assets Regulatory Authority (VARA) that provides digital asset trading solutions. Zodia, a Standard Chartered subsidiary, is responsible for custody services, ensuring secure storage of client cryptocurrencies.
The Liv X platform enables users to safely buy and sell cryptocurrencies while managing their digital assets within a single app. The service targets retail investors, providing them with a regulated and user-friendly entry into the crypto market.
Dubai Strengthens Its Position as a Crypto Hub
Alongside the Liv crypto launch, Dubai continues to expand its infrastructure for cryptocurrency businesses. Recently, Dubai Multi Commodities Centre (DMCC), in partnership with REIT Development, announced the construction of Crypto Tower in the Jumeirah Lakes Towers (JLT) business district.
The 17-story complex is designed to be a hub for blockchain companies, DeFi startups, and Web3 projects. It will house offices, incubators, venture capital funds, and AI innovation infrastructure.
Key Features of Crypto Tower
- Over 14,000 square meters of rentable space
- 9 floors dedicated to blockchain and crypto firms
- 3 floors for blockchain investors and startup incubators
- A dedicated floor for AI developments
- An exclusive crypto club and NFT gallery
- A luxury car showroom and gold marketplace
- A secure digital asset vault, including cold wallet storage
The project will utilize blockchain technology to automate tenant management, implementing blockchain-based voting, smart contracts, and other transparency-enhancing solutions to reduce bureaucratic inefficiencies.
Dubai Accelerates Digital Asset Integration
The launch of Liv's crypto trading services and the construction of Crypto Tower highlight Dubai’s commitment to becoming a global leader in digital assets. The city's government continues to build infrastructure, regulatory clarity, and investment opportunities to foster the growth of blockchain, cryptocurrencies, and Web3 technologies.
With growing interest in digital assets, this approach is expected to attract more companies and investors to the region, solidifying Dubai’s status as one of the world’s leading crypto hubs.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.