Emirates NBD, the largest bank in Dubai, has announced a partnership with digital-assets firm Aquanow to offer cryptocurrency services via its digital banking arm. Customers using Emirates NBD’s digital bank, Liv, can now buy, sell, and trade cryptocurrencies through the Liv X app, according to the bank’s statement.

This initiative comes as banks increasingly venture into the digital-assets space, following a significant rally in the cryptocurrency market. Bitcoin, for instance, peaked at a record price of $109,241 on January 20, 2025. Additionally, Italy’s largest bank, Intesa Sanpaolo SpA, recently made its first spot Bitcoin purchase, and Switzerland’s PostFinance AG expanded its digital-asset offerings to include Ether staking in January.

Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, emphasized the importance of this launch, stating that with the highest crypto adoption rate in the UAE, the bank is eager to introduce its own virtual asset offering to take advantage of the growing trend. Liv’s cryptocurrency services will be supported by Aquanow, which is licensed by Dubai’s Virtual Assets Regulatory Authority, while custody services will be provided by Zodia Custody, a subsidiary of Standard Chartered Plc.

The cryptocurrency market has seen a boost recently, partly due to the pro-crypto stance of President Donald Trump, who signed an executive order to strengthen the U.S. industry in January. However, his recent remarks regarding the inclusion of lesser-known tokens in a strategic cryptocurrency reserve have raised doubts, leading to a market selloff. As of 10:32 a.m. in London on Thursday, Bitcoin was trading at $91,520.