Emirates NBD, a banking group in the MENAT (Middle East, North Africa and Türkiye) region, has introduced Chainalysis as a key council member of its Digital Asset Lab.
Chainalysis, the blockchain data platform, will join professional services firm PwC, digital asset transfer and direct custody technology platform Fireblocks and R3, an enterprise distributed ledger technology platform, as founding council members of the Lab.
The Digital Asset Lab, announced at the Dubai FinTech Summit in May 2023, focuses on leveraging digital assets and related technologies to innovate financial services in the UAE. Chainalysis’ expertise in blockchain analysis and compliance will strengthen the Lab by contributing to the development of innovative financial products and services that are compliant and secure.
Emirates NBD plans to leverage Chainalysis’ analytics and investigative capabilities to understand market trends and customer needs, while enhancing the integrity of the bank’s digital asset initiatives.
Miguel Rio Tinto, group chief digital and information officer at Emirates NBD, said: “By partnering with Chainalysis, the bank aims to provide a more transparent and reliable digital finance environment for customers, thereby fostering greater trust and confidence in the bank’s digital offerings.”
Nicola Buonanno, VP Southern EMEA at Chainalysis, also added: “Financial institutions play a pivotal role in sculpting the future of digital assets, offering secure avenues for investor engagement with the right risk mitigation measures. Chainalysis is excited to collaborate with Emirates NBD through its Digital Asset Lab, leveraging its data and solutions to facilitate safe and transparent digital asset services. Together with the Emirates NBD, we aim to forge a resilient financial sector, fostering confidence and further advancing the UAE’s leadership in digital assets innovation.”
The Digital Asset 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 post Chainalysis Joins Emirates NBD in Accelerating Digital Asset Innovation in the UAE appeared first on The Fintech Times.
