Dubai’s Emirates NBD launches crypto trading through digital arm

The largest bank in Dubai has partnered with digital-assets firm Aquanow to start offering cryptocurrency services through its digital banking of Emirates NBD’s digital bank Liv can now buy, sell and trade cryptocurrencies through the Liv X app, according to a statement. .It’s the latest sign of banks pushing deeper into the digital-assets space after an extended rally that culminated in Bitcoin hitting a record of $109,241 on Jan. 20. Italy’s largest bank Intesa Sanpaolo SpA recently made its first spot Bitcoin purchase, while Switzerland’s PostFinance AG in January expanded its digital-asset offering to include Ether staking. .“With the highest crypto adoption rate in the UAE, we are keen to launch our own virtual asset offering to capitalise on this trend,” said Marwan Hadi, group head, retail banking and wealth management at Emirates ’s crypto services are powered by Aquanow, which is licensed by Dubai’s Virtual Assets Regulatory Authority. Zodia Custody, an affiliate of Standard Chartered Plc, will provide custody services. .The crypto market has been buoyed in recent months by President Donald Trump's pro-crypto agenda, who signed an executive order in January bolstering the US industry. But his recent comments about including lesser-known tokens in a strategic cryptocurrency reserve were met with skepticism, sparking a selloff. .Bitcoin was trading at $91,520 as of 10:32 a.m. in London on Thursday.