Emirates NBD partners with PWC and Fireblock to launch Digital Asset Lab UAE-based Emirates NBD Bank has partnered with PWC Middle East and digital asset custodian FireBlocks to establish its Digital Asset Lab. This collaboration is set to pave the way for innovation in the digital asset space within the region.
Exploring digital asset opportunities with PWC and FireBlocks
According to sources, the partnership aims to shape the future of digital assets in the region, with PWC Middle East and FireBlocks as founding council members. FireBlocks is a specialized platform that offers a secure infrastructure for the safe movement, storage, and issuance of digital assets. However, the company helps businesses support digital assets and cryptocurrencies in a secure manner. The announcement follows the unveiling of Fireblocks latest product: the Fireblocks Compliance Solutions Suite. This suite is aimed at helping institutions meet regulatory requirements for digital assets and stay ahead of potential industry threats, focusing on simplifying the process.
Emirates NBD’s commitment to blockchain, digitization, and FinTech
As a strong proponent of blockchain technology, digitization, and, Fintech, Emirates NBD has consistently supported innovative solutions. Also, the bank was among the first to join the UAE’s blockchain-enabled KYC platform.
In 2022, Emirates NBD Group Chief Operating Officer Abdulla Qassem asserted that blockchain technology would soon become prominent in the UAE, with crypto and digital assets gaining recognition as valid currencies. He shared these thoughts during a panel session at the Global Business Forum Latin America (GBF LATAM 2022). Recently, the bank formed a partnership with the Dubai International Financial Centre (DIFC) to enhance its global reputation in the field of FinTech. The ultimate objective is to elevate the nation’s position as a prominent global investment center.
The partnership between Emirates NBD, PWC Middle East, and FireBlocks could potentially lead to the introduction of crypto transactions and wallets at Emirates NBD. As the digital asset landscape evolves, this collaboration is poised to drive innovation and expand opportunities for financial services within the region.
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