Liv, UAE’s first digital bank launched by Emirates NBD, has entered into a Memorandum of Understanding (MoU) with Ctrl Alt, a B2B alternative asset solutions provider, to explore infrastructure solutions related to the tokenization of real-world assets. The aim is to provide customers with access to the burgeoning tokenized asset sector by leveraging Ctrl Alt’s infrastructure.
Digital assets have been identified as a trillion-dollar asset class, presenting significant opportunities for future innovation and market growth. Liv is focused on catering to the next generation of investors and is working with Ctrl Alt to offer diversified and sought-after products. With the changing investment patterns among millennials and Gen Z, there is a growing demand for alternative investment avenues, including private market assets like private equity, private debt, real estate, and infrastructure.
According to various surveys, younger investors are showing strong long-term investment convictions, with a preference for private market assets. Gen Z individuals are investing at a higher rate and earlier age than previous generations, indicating a shift in investment behavior. The MoU between Liv and Ctrl Alt was signed at the Dubai FinTech Summit by Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, and Matt Ong, founder and CEO of Ctrl Alt.
The Boston Consulting Group report suggests that asset tokenization will present a USD16.1 trillion business opportunity by 2030. This, coupled with the growing demand for alternative investment avenues from millennials and the next generation of investors, offers a significant opportunity for exploration in the tokenized asset sector. Liv’s Chief Digital Officer, Pedro Sousa Cardoso, highlighted the benefits of tokenization in reducing costs and settlement times, positioning the bank as a pioneer in technology adoption in the region.
Emirates NBD is set to launch fractional bonds on its mobile banking application, offering a more affordable entry point for investors. The bank aims to provide diversified investment opportunities for its clients through these fractional bonds. Additionally, Liv is planning to introduce digital joint accounts for the first time in the region, enabling customers to open joint accounts digitally within minutes through the mobile app.
With 96% of Emirates NBD’s customer base already on its digital platforms, the bank is focused on enhancing customer experience through digital innovation. Liv’s commitment to offering a range of innovative and in-demand products aligns with the bank’s vision of being the most innovative bank for its customers, people, and communities. The partnership with Ctrl Alt and the exploration of tokenized real-world assets further solidify Liv’s position as a leader in catering to the evolving needs of the next generation of investors.
