Emirates NBD Launches Crypto Trading on Liv X App

Dubai’s Big Step into Crypto: Liv X App’s New Feature

The United Arab Emirates (UAE) is making waves in the world of cryptocurrency! Dubai’s state-owned bank, Emirates NBD, has added a new feature to its digital banking app, Liv X. Now, users can buy, sell, and store cryptocurrencies right within the app[1][2]. This is a huge deal because it shows that the UAE is serious about embracing digital money.

How Liv X Makes It Possible

The Liv X app’s crypto trading feature is thanks to a smart partnership with Aquanow, a company that’s been given the okay by Dubai’s Virtual Assets Regulatory Authority to provide crypto services[2][4]. Plus, Zodia Custody, a London-based company that Emirates NBD has invested in, keeps the digital money safe[1][2]. So, users can manage their cryptocurrencies securely and easily alongside their regular banking needs.

Crypto in the UAE: Popular and Growing

The UAE is already a big fan of cryptocurrency. About 30% of people there own some[2]. This love for crypto is expected to keep growing, with the market predicted to grow by 8% each year for the next four years[2]. In just one year, from July 2023 to June 2024, the UAE saw over $30 billion in crypto transactions[2]. That’s a lot of digital money!

What You Can Do with Liv X App

The Liv X app lets you trade five popular cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA)[1]. This means you can manage both your traditional money and cryptocurrencies all in one place. The app is easy to use and has strong security, making it great for both new and experienced crypto investors.

Looking Ahead: More Crypto in Our Future

Emirates NBD’s new crypto trading service is a big step towards making cryptocurrency a normal part of our lives. It shows that Dubai is all about innovation and that the UAE wants to be a major player in the global crypto world. As more banks and financial institutions join in, we can expect to see cryptocurrency becoming even more common.

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Sources:
– Followin
– Finextra
– Crypto Times
– Binance