Emirates NBD partners with PWC and Fireblock to launch Digital Asset Lab

TL;DR Breakdown

• UAE-based Emirates NBD Bank partners with PWC Middle East and digital asset custodian FireBlocks to launch its Digital Asset Lab.
• The collaboration aims to shape the future of digital assets in the region, with both PWC and FireBlocks as founding council members.
• This partnership could potentially lead to the introduction of crypto transactions and wallets at Emirates NBD as the bank continues to support blockchain technology and digitization

UAE-based Emirates NBD Bank has announced a partnership 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

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 an enterprise-grade platform specializing in secure infrastructure for moving, storing, and issuing digital assets. The company helps businesses support digital assets and cryptocurrencies in a secure manner.

Earlier this year, FireBlocks acquired First Digital, a stablecoin and digital asset payments technology platform, for $100 million.

Emirates NBD’s commitment to Blockchain and digitization

As a strong proponent of blockchain technology and digitization, Emirates NBD has consistently supported innovative solutions. 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).

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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