Emirates NBD and R3 Join Forces in Digital Asset Innovation!

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May 18, 2022
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Emirates NBD and R3 Join Forces in Digital Asset Innovation!

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Emirates NBD, a trailblazing banking giant in the MENAT region (Middle East, North Africa, and Türkiye), is thrilled to announce a groundbreaking partnership with R3, a renowned enterprise distributed ledger technology powerhouse. This alliance solidifies R3's position as a key member of the Digital Asset Lab Council. Together with esteemed partners PwC and Fireblocks, Emirates NBD is forging ahead with cutting-edge innovation!

Unlocking the Power of Corda!

R3's Corda platform is the veritable beacon of hope in the world of regulated digital finance. Corda offers an unparalleled combination of a permissioned ledger, asset modeling prowess, and a multi-party workflow engine – all wrapped up in one brilliant, interoperable, and scalable distributed platform.

Emirates NBD's Commitment to Financial Innovation!

Emirates NBD's unwavering commitment to financial innovation takes a giant leap forward with the addition of R3 to the Digital Asset Lab. This collaboration represents a pivotal moment, as it brings together the genius of R3 and the vision of Emirates NBD to drive transformative advancements in digital assets, currencies, and banking services.

Abdulla Qassem, Group COO Speaks!

Abdulla Qassem, Group Chief Operating Officer at Emirates NBD, exudes enthusiasm: "We're thrilled to welcome R3, a true technology pioneer, to the Digital Asset Lab. This platform is a cornerstone of Emirates NBD's innovation strategy, serving as a dynamic testing ground for revolutionary financial technologies and digital assets."

He emphasizes, "The Digital Asset Lab empowers us with deep insights into emerging technologies, their risks, and their benefits. This valuable knowledge will drive our secure and efficient integration of these advancements into our services."

David Rutter, R3 CEO, Adds His Voice!

David Rutter, Chief Executive Officer at R3, shares the excitement: "R3 is thrilled to collaborate with Emirates NBD through its new Digital Asset Lab. The region's financial innovation is flourishing, and the Lab marks another significant milestone in its thriving FinTech sector."

"As Lab partners, we're eager to support Emirates NBD in developing and testing transformative technologies. Our joint efforts will play a pivotal role in asset tokenization, distributed ledger technology, and digital transformation in regulated financial markets."

The Birth of the Digital Asset Lab

The Digital Asset Lab emerged on the grand stage at the Dubai FinTech Summit in May 2023. Its mission? To catalyze digital asset and financial services innovation in the UAE. Emirates NBD, as a national banking champion, stands at the helm, fostering a robust platform alongside industry experts to nurture innovative financial concepts using digital assets and their underlying technologies.

A Focus on the Future of Digital Assets!

The Lab is dedicated to digital assets and the immense potential of underlying technologies. It's all about empowering customers to effectively manage their financial service needs in the ever-evolving and dynamic realm of digital assets.

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This vibrant partnership between Emirates NBD and R3 is a beacon of hope for the future of digital finance in the MENAT region and beyond! Stay tuned for more groundbreaking innovations in the world of banking and digital assets.