Emirates NBD has announced the launch of the Emirates NBD Digital Asset Lab, a platform that will enable and accelerate digital asset and financial services innovation in the UAE.
Through the Digital Asset Lab, the bank is establishing a robust platform with industry experts, enabling co-creation and experimentation for the development of innovative ideas in financial services using digital assets and its underlying technologies. The Lab focuses purely on digital assets and how underlying technologies can be leveraged to enable customers to effectively manage their financial services requirements in the evolving and dynamic environment of digital assets. The platform will enable global accessibility of subject matter experts and foster education and awareness for the Group and its customers while enhancing efficiency and ensuring security and transparency.
Recently, at the Dubai FinTech Summit, the bank signed innovation focussed agreements with professional services firm, PwC, and digital asset transfer and direct custody technology platform, Fireblocks, as founding council members.
The collaboration between parties is envisioned to focus on four key pillars including:
1. Strategy and Policy: Compliance, risk and security framework(s) for Web 3.0 technologies
2. Architecture: Business, technology and security reference architecture for Web 3.0 solutions
3. Partners: Collection of Partners (technology, business and governance) who can support with the required systems and processes for Web 3.0 technologies
4. Capabilities: Design, build and experiment new capabilities and value propositions related to Web 3.0 ecosystem