Distributed ledger technology and services firm, R3, is to join the Emirates NBD digital asset lab. R3, PwC and Fireblocks have come together as the founding council members of the lab.
R3’s Corda offers a permissioned ledger, asset modelling capabilities and multi-party workflow engine in one interoperable and scalable distributed platform.
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Emirates NBD says that the lab demonstrates its continuing commitment to spearhead innovation in the financial sector with the help of cutting-edge solutions. With the new addition to the Digital Asset Lab, Emirates NBD is strengthening the new collaborative ecosystem. Specifically, it will leverage R3’s regulated markets expertise to drive transformative advancements in digital assets, currencies and banking services. In addition, it will use R3’s technology to enhance security, efficiency and customer-centricity.
Emirates NBD digital asset lab: testing ground for new financial technologies and digital assets
Abdulla Qassem, Group COO, Emirates NBD, said: “We are pleased to welcome R3 to the digital asset lab. The platform is significant to Emirates NBD’s innovation strategy as it serves as a testing ground for new financial technologies and digital assets.
The lab demonstrates Emirates NBD’s commitment to stay at the forefront of innovation in a rapidly evolving financial landscape. It is set to significantly enhance our understanding of current and emerging technologies, along with their associated risks and benefits. This valuable insight will enable us to adapt and integrate these advancements into our services effectively and securely.”
David Rutter, CEO, R3, added: “R3 is delighted to be partnering with Emirates NBD. The region continues to go from strength to strength in global financial innovation. Creation of the lab marks another significant milestone in the growth of its burgeoning fintech sector. As lab partners, we are excited to support Emirates NBD in the development and testing of transformative technologies. Our efforts will contribute to vital initiatives centred around asset tokenisation, distributed ledger technology, and digital transformation in regulated financial markets.”
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By GlobalDataThe lab was announced in May 2023. Its goal is to enable and accelerate digital asset and financial services innovation in the UAE.
The lab focuses purely on digital assets and how underlying technologies can be leveraged to enable customers to effectively manage their financial services requirements in the evolving and dynamic environment of digital assets.
