Dubai Government’s Emirates NBD is now offering crypto trading. It makes the move through its digital arm, Liv. An emailed notice on Thursday announced the news to CoinDesk. Customers can now buy and sell digital coins using the Liv X app.
New Digital Service
Liv is rolling out a crypto trading service. The app helps users trade digital coins with ease. The bank uses Aquanow’s infrastructure. Aquanow is a licensed digital asset platform under Dubai’s VARA.
Liv’s crypto service comes with robust support. Zodia, backed by Standard Chartered, handles custody. This helps keep assets safe and secure. The bank’s decision reflects the growing interest in digital finance.
Dubai as a Crypto Hub
Dubai has long been a leader in crypto. The city offers clear rules for licensing crypto firms. Major exchanges like Binance, Crypto.com, and OKX have earned approvals here. The supportive environment has turned Dubai into a crypto hub.
The city encourages innovation in blockchain and digital assets. Many startups and global companies choose Dubai for its clear rules. This makes it a center for modern finance.
Dubai also leads in blockchain innovation. The city backs projects that push digital finance forward. New ideas and smart projects have made it a key player. Dubai’s government and businesses work closely together. This cooperation drives the city’s rise in the crypto world.
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Building a Crypto Complex
Dubai is set to complete a major crypto complex soon. Local reports mention the Crypto Tower project in Jumeirah Lakes Towers. This project is a joint effort by REIT Development and DMCC.
The Crypto Tower will have 17 stories. It aims to serve blockchain, DeFi, and Web3 companies. The project will boost DMCC’s network. This move will strengthen Dubai’s reputation in digital innovation. The tower is a sign of Dubai’s commitment to future technologies.
Tax Exemption for Digital Assets
The United Arab Emirates announced a key tax break. The country will exempt digital asset transactions from VAT. This decision is a landmark change. It marks a new era in international crypto finance.Â
The tax exemption makes trading digital assets cheaper. It will attract more businesses and investors. The UAE’s move is set to reshape the global crypto landscape. This step makes the UAE a friendly hub for digital finance.
Emirates NBD’s launch of crypto trading on Liv X shows Dubai’s growing digital drive. The move is timely amid a rise in global crypto activity. The bank’s decision and government projects signal a strong digital future.
Dubai is proving to be a leader in crypto and blockchain. New projects and tax incentives boost its standing further
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