A Vancouver-based financial technology innovator this month announced that it is working with a new digital bank in the Middle East to power cryptocurrency solutions for mobile.
Aquanow recently revealed the partnership with Liv, UAE’s first digital bank. Liv was launched by banking group Emirates NBD.
“We are proud to partner with a storied financial institution in Emirates NBD,” stated Aquanow chief executive Phil Sham, “and excited to bring our globally deployed crypto solutions to a regional audience.”
A survey from the International Financial Group recently suggested that UAE residents are increasingly investing in cryptocurrencies.
In response to this rising demand, customers can now buy, sell, and trade cryptocurrencies within the Liv X app, according to a statement from the firms.
The new offering features crypto infrastructure operated by Aquanow, a global virtual asset service provider licensed by the Virtual Assets Regulatory Authority in Dubai, and custody services performed by Zodia Custody.
“Our partnership is a testament to the UAE’s emergence as a global crypto hub and is a leading example of how banks and fintech’s can collaborate to develop cutting edge, secure, and seamless product propositions that truly benefit the retail customer,” Sham continued.
“Incumbent institutions like Emirates NBD will play a pivotal role in driving the next wave of digital asset adoption and Aquanow is proud to be the leading crypto provider chosen by financial institutions both here in the GCC and globally,” the CEO believes.
The B.C.-born fintech has been collaborating with partners and advancing its position overseas for some time. Aquanow first opened offices in Dubai in Turkey in 2022.
Foreign market expansion has played a key role in Aquanow’s high growth. By 2023, the upstart boasted six offices worldwide. That year, and again in 2024, Aquanow ranked among the fastest-growing fintechs in the country, cracking the top 10 of Deloitte Canada’s Technology Fast 50.
Aquanow was founded in 2018.
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