Dubai’s Big Step into Crypto: Liv X App’s Crypto Revolution
Emirates NBD, a big bank in Dubai, has done something amazing! They’ve added a new service to their digital banking app, Liv. Now, you can buy, sell, and keep cryptocurrencies right in the Liv X app[1][2]. This is a huge deal because it means cryptocurrency is becoming a normal part of banking. Dubai and the UAE are leading the way in using cryptocurrency.
The Liv X App’s Secret: Partnerships and Tech
The Liv X app can do all this thanks to two great partners. First, there’s Aquanow, a company that’s allowed to help with cryptocurrency by Dubai’s Virtual Assets Regulatory Authority[2][4]. They make it possible for users to trade cryptocurrencies in the app. Second, there’s Zodia Custody from London. They keep the digital assets safe[1][2]. These partnerships make sure users can manage their cryptocurrencies easily and safely, along with their regular banking needs.
Crypto in the UAE: Big and Growing
The UAE loves cryptocurrency! About 30 out of every 100 people there own some digital assets[2]. This love for crypto is only going to grow. In the next four years, the crypto market is expected to get 8% bigger each year[2]. Just in one year, from July 2023 to June 2024, the UAE had over $30 billion in cryptocurrency transactions[2]. That’s a lot of crypto activity!
What You Can Do with the Liv X App
The Liv X app lets you trade five big cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA)[1]. This means you can manage both your regular money and your cryptocurrencies all in one place. The app is easy to use and very safe, making it great for both new and experienced crypto investors.
A Big Step for Crypto
Emirates NBD’s new crypto trading service is a huge step forward for cryptocurrency. It shows that Dubai and the UAE are serious about being at the forefront of this new technology. As more banks and financial institutions get on board, we can expect to see cryptocurrency become a normal part of our lives.
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Sources:
– Followin
– Finextra
– Crypto Times
– Binance