Dubai’s Big Step into Crypto: Liv X App Makes Waves
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, thanks to Emirates NBD’s Liv X app. Isn’t that amazing?
What’s the Big Deal?
Emirates NBD, a big bank in Dubai, has added a new feature to its digital banking app, Liv. Now, you can buy, sell, and keep cryptocurrencies all within the Liv X app. This is a huge deal because it means cryptocurrency is becoming a part of everyday banking. Dubai is showing the world that it’s ready for the future of money!
How Did This Happen?
The Liv X app got its crypto powers from a team-up with two great companies. First, there’s Aquanow, a company that helps people use cryptocurrencies safely and legally. They got the okay from Dubai’s Virtual Assets Regulatory Authority to work with Liv X[4].
Second, there’s Zodia Custody, a company from London that keeps digital money safe. Emirates NBD even invested in them to make sure your cryptocurrencies are secure[1][2].
Why Should We Care?
The UAE, where Dubai is located, loves cryptocurrencies. About 3 out of 10 people there own some digital money[2]. This new feature in the Liv X app will make it even easier for people to use cryptocurrencies. Experts say the crypto market in the UAE will grow by 8% each year for the next four years[2]. That’s a lot of growth!
In just one year, from July 2023 to June 2024, the UAE had over $30 billion in cryptocurrency transactions[2]. That’s a lot of money moving around, and it shows that the UAE is a big player in the global crypto world.
What Can You Do with Liv X?
With the Liv X app, you can trade five popular cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA)[1]. It’s like having a one-stop shop for all your money needs, whether it’s traditional or digital.
The Liv X app is easy to use and safe, making it perfect for both new and experienced crypto investors. It’s a great way to try out the crypto world without any hassle.
What Does This Mean for the Future?
The launch of crypto trading on the Liv X app is a big deal. It shows that Dubai and the UAE are serious about embracing the future of money. As more banks and people join the crypto world, we can expect to see cryptocurrencies becoming a normal part of our lives.
Isn’t it exciting to think about what the future holds for money? With innovations like the Liv X app, who knows what we’ll be able to do with our finances tomorrow?
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Sources:
– Followin
– Finextra
– Crypto Times
– Binance