"Liv" And "ControlAlt" They sign a memorandum of understanding to develop real asset tokenization solutions
DUBAI, 7 MAY / WAM / Liv, the first digital bank in the UAE from Emirates NBD, has signed a memorandum of understanding with Control Alt, a provider of alternative asset solutions for companies, to explore opportunities to develop infrastructure solutions related to the tokenization of real assets. . The memorandum signing ceremony took place during the Dubai FinTech Summit between Marwan Hadi, Head of Retail Banking and Wealth Management at Emirates NBD Group; and Matt Ong, Founder and CEO of ControlAlt.
Digital assets represent an asset class worth one trillion US dollars, which necessarily means an abundance of innovative and investment opportunities in this field in the future. Liv will collaborate with Control Alt to ensure that they remain at the forefront of offering diverse products that support the requirements of the next generation of investors. Leveraging ControlAlt’s cutting-edge infrastructure, Liv Bank seeks to explore new ways to enable its clients to access the thriving tokenized assets sector.
Marwan Hadi, Head of Retail Banking and Wealth Management at Emirates NBD Group, said: “We are proud that Liv is the first bank in the UAE to offer its customers the opportunity to invest in real tokenized assets, and we are pleased to collaborate in this initiative with a leading infrastructure solutions provider such as ‘ControlAlt’. This falls within the framework of the continuous efforts made by Liv., as the innovation incubator in the Emirates NBD Group, to lead the digital innovation scene, as it seeks to cooperate with partners to explore and test innovative technologies that resonate widely at the local and international levels.”
Hadi added: “Boston Consulting Group indicates in one of its reports that the asset tokenization sector will witness remarkable growth to achieve tremendous business opportunities worth up to $16.1 trillion by 2030. In light of the increasing demand for alternative investment methods by millennials and the next generation of… Investors, this represents an important opportunity to explore the potential of this sector in line with our vision to be the most innovative bank to serve our customers, employees and communities.”
For his part, Pedro Souza Cardoso, Chief Digital Officer of Retail Banking and Wealth Management at Emirates NBD, said: “Coding is an essential pillar for the future of financial markets because of the important advantages it offers in terms of reducing costs and accelerating settlement processes. As we are the first to adopt modern technology in “In the region, we are keen to explore this area carefully to ensure we remain competitive against more agile fintech companies, and our efforts in exploring real asset tokenization solutions are based on Liv’s commitment to serving its current generation customers by providing a diverse range of innovative products that meet their financial needs.”
Matt Ong, Founder and CEO of ControlAlt, said: “We are pleased to continue supporting the thriving tokenized assets sector by providing the infrastructure solutions necessary for it to thrive, from framing digital SPVs to organizing fund structures. We look forward to cooperating with Liv to jointly pave the way in tokenizing and digitizing traditional assets and investing in them, as the bank represents the future of banking services with its continuous focus on innovation and meeting the requirements of the next generation of investors seeking to diversify their investments through tokenized assets, and there is no doubt that we will see an abundance of opportunities that it will provide This partnership is for Liv customers.”
- For more: Elrisala website and for social follow us on Facebook
- Source of information and images “wam“
