Liv signs MoU with Ctrl Alt to explore tokenisation of real-world assets
Liv Digital Bank by Emirates NBD to incubate digital asset innovations First-of-its-kind collaboration related to tokenised real-world assets in the region led by a bank Collaboration aimed at exploring ways to provide customers with access to the growing tokenised asset sector
Liv, the pioneering digital bank launched by Emirates NBD, a leading banking group in the MENAT region, has inked a Memorandum of Understanding (MoU) with Ctrl Alt, a B2B alternative asset solutions provider. The agreement, signed at the Dubai FinTech Summit, signifies the beginning of a collaboration aimed at exploring infrastructure solutions related to the tokenisation of real-world assets. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, and Matt Ong, Founder and CEO of Ctrl Alt, were present to seal the deal.
The partnership underscores Liv's commitment to spearheading the next generation of investors by harnessing the potential of digital assets. By teaming up with Ctrl Alt, Liv aims to leverage their infrastructure to delve into the burgeoning sector of tokenised assets, offering its customers access to a diverse range of sought-after products.
Digital assets represent a trillion-dollar asset class, with vast opportunities for innovation and market growth. Liv's collaboration with Ctrl Alt aims to position the bank at the forefront of this evolving landscape, catering to the changing investment patterns observed among millennials and Gen Z.
Recent surveys have highlighted a shift in investment preferences, with younger investors expressing a strong inclination towards private market assets such as private equity, private debt, real estate, and infrastructure. Gen Z, in particular, is displaying a heightened interest in investing at an earlier age compared to previous generations, further emphasizing the need for innovative investment solutions.
Marwan Hadi commented on Liv's pioneering initiative, stating, "Liv is the first bank in the UAE to explore offering tokenised real-world asset investing opportunities to customers, and we are delighted to co-partner with a leading infrastructure provider such as Ctrl Alt for this initiative. As the innovation incubator in Emirates NBD Group, Liv has always remained at the forefront of digital innovation, seeking to collaborate with partners to explore and experiment with technologies that are in demand globally and in the UAE."
Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, highlighted the significance of tokenisation in shaping the future of financial markets. He emphasized Liv's commitment to technology adoption and innovation, positioning the bank to meet the evolving needs of its customers in a rapidly changing landscape.
Matt Ong of Ctrl Alt expressed excitement about the partnership, underscoring Liv's role in driving innovation and catering to the demands of the next generation of investors. He commended Liv's customer-centric approach and expressed optimism about the opportunities the collaboration would bring to Liv's customers.
The partnership between Liv and Ctrl Alt signals a pivotal moment in the evolution of digital banking in the UAE, with a focus on providing innovative and accessible investment solutions to meet the diverse needs of customers in the region.
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