Emirates NBD has opened a Digital Asset Lab to develop fresh ideas for consumer-facing financial services using digital assets and their underlying technologies.
The bank has signed agreements with professional services firm, PwC, and digital asset transfer and direct custody technology platform, Fireblocks, as founding council members.
The collaborative effort will focus on four key pillars including:
- strategy and policy: Compliance, risk and security framework(s) for Web 3.0 technologies
- architecture: Business, technology and security reference architecture for Web 3.0 solutions
- partners: Collection of partners (technology, business and governance) who can support with the required systems and processes for Web 3.0 technologies
- capabilities: Design, build and experiment new capabilities and value propositions related to Web 3.0 ecosystem.
Abdulla Qassem, group chief operating officer, Emirates NBD, says: “Our new Digital Asset Lab serves as a hub for innovation, experimentation and collaboration in the digital asset space, supported by industry partners. We see this as another stride towards accelerating our transformation journey and developing the latest solutions that optimise customer experience.”