Dubai’s Crypto Leap: Liv X App Unveiled
Imagine this: You’re checking your bank account on your phone, and suddenly, you realize you can also buy and sell cryptocurrencies right there, in the same app! That’s exactly what’s happening in Dubai, and it’s a big deal!
Dubai’s Big Step into Crypto
Emirates NBD, a major bank in Dubai, has just launched a new feature on its digital banking app, Liv X. Now, users can buy, sell, and hold cryptocurrencies directly within the app![1][2] This isn’t just a small change; it’s a huge step towards making cryptocurrency a part of everyday banking.
Dubai is known for being open to new ideas, and this move shows that the UAE wants to be at the forefront of the crypto world. With this change, the UAE is becoming a major hub for cryptocurrency adoption.
How Liv X Makes It Possible
The Liv X app’s crypto trading feature is thanks to a clever partnership. Aquanow, a company approved by Dubai’s Virtual Assets Regulatory Authority, is helping Liv X offer crypto trading.[2][4] Plus, Zodia Custody, a London-based company that Emirates NBD has invested in, is keeping the digital assets safe.[1][2] This means users can manage their cryptocurrencies securely and easily, all in one place.
Crypto in the UAE: Growing Fast
The UAE is already a big player in the crypto world. About 30% of people in the UAE own digital assets![2] This trend is expected to keep growing, with the crypto market projected 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 cryptocurrency transactions![2]
What You Can Do with Liv X
The Liv X app lets you trade five major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA).[1] This means you can manage both your traditional money and your 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.
A Big Leap for Crypto
Emirates NBD’s crypto trading service on the Liv X app is a huge step forward for cryptocurrency. It shows that Dubai is serious about innovation and that the UAE wants to be a global leader in the crypto world. As more banks and financial institutions embrace digital assets, we can expect to see cryptocurrencies becoming a bigger part of our daily lives.
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Sources:
– Followin
– Finextra
– Crypto Times
– Binance