Dubai’s Crypto Leap: 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 X, that lets you buy, sell, and keep cryptocurrencies. This is a huge step in making cryptocurrency a normal part of banking. It also shows that Dubai is really into digital money and wants to be a big player in the crypto world.
The Liv X App’s Crypto Magic
The Liv X app can do this because of two smart partnerships. First, they worked with Aquanow, a company that’s allowed by Dubai’s Virtual Assets Regulatory Authority to help with crypto. Second, they teamed up with Zodia Custody, a company from London that keeps digital money safe. This means users can manage their cryptocurrencies easily and safely, right along with their regular bank stuff.
Crypto in the UAE
The UAE is already really into cryptocurrency. About 30 out of every 100 people there own some digital money. This is great news because it means more people will use the Liv X app’s new crypto service. Plus, the crypto market in the UAE is expected to grow by 8% each year for the next four years. In just one year, from July 2023 to June 2024, the UAE had over $30 billion in crypto transactions. That’s a lot!
What You Can Do with Liv X
The Liv X app lets you trade five popular cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA). This means you can manage all your money, both regular and crypto, in one place. The app is easy to use and very safe, so it’s perfect for both new and experienced crypto investors.
A Big Step for Crypto
Emirates NBD’s new crypto service on the Liv X app is a really big deal. It shows that Dubai is serious about innovation and wants to be a major player in the global crypto scene. As more banks and people get into cryptocurrency, we can expect to see it become a normal part of everyday life.
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