Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa, and Türkiye) region, has announced Chainalysis as a key council member of the Digital Asset Lab.
Industry sources added that 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.
Chainalysis’ expertise in blockchain analysis and compliance will boost the Digital Asset Lab by contributing to developing innovative financial products and services that are compliant and secure.
Industry sources added that the strategic alliance displays Emirates NBD’s commitment to upholding the highest standards of regulatory compliance in the rapidly evolving digital finance landscape.
Miguel Rio Tinto, Group Chief Digital and Information Officer at Emirates NBD, stated: “As a leading local bank that has always been committed to innovation, Emirates NBD is proud to partner with Chainalysis and welcomes the company to the Digital Asset Lab to pave the way for pioneering solutions in the financial sector. 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, stated: “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.”
Industry sources also confirmed that as a national bank known for innovation, Emirates NBD plans to leverage Chainalysis’ analytics and investigative capabilities to further discern market trends and customer requirements while boosting the integrity of the bank’s digital asset initiatives.
