UAE Emirates NBD Bank announced on LinkedIn that it has partnered with PWC and digital asset custodian and settlement provider FireBlocks to launch its Digital Asset Lab. PWC Middle East and Fireblocks will be founding council members.
According to Emirates NBD, “This marks a new milestone in our innovation journey, and together, we look forward to shaping the Digital Asset space in the region.”
Fireblocks is an enterprise-grade platform delivering secure infrastructure for moving, storing, and issuing digital assets. The company enables businesses to easily and securely support digital assets and cryptocurrencies.
In February of 2023, Fireblocks acquired First Digital, a stablecoin and digital asset payments technology platform for $100 million.
UAE based Emirates NBD has been a strong proponent for Blockchain and digitization. Emirates NBD was one of the first banks to join the UAE blockchain enabled KYC platform.
In 2022 UAE Emirates NBD Group Chief Operating Officer Abdulla Qassem, stated, “It is only a matter of time before Blockchain technology rises to the forefront in the UAE and we begin to acknowledge crypto and digital assets as valid currencies. He made this statement during a panel session at the Global Business Forum Latin America (GBF LATAM 2022).
Could this be the beginning of crypto transactions and wallets at Emirates NBD, we will just have to wait and see.