Emirates NBD recruits R3 for Digital Assets Lab

Blockchain firm R3 has signed up to the Digital Assets Lab run by Dubai-based bank Emirates NBD.

The bank launched the lab in May 2023 to accelerate its digital assets plans.

R3 joined PwC and Fireblocks as members. Whereas Fireblocks is primarily used as the underlying infrastructure for digital asset custody services, R3 has focused on tokenisation via its Corda platform.

“Our efforts will contribute to vital initiatives centred around asset tokenisation, distributed ledger technology, and digital transformation in regulated financial markets,” said R3 chief executive David Rutter.

R3 was also chosen as one of the tech firms to help develop a central bank digital currency within the UAE in April.

Meanwhile, Emirates NBD launched a digital wealth platform in October to trade securities and ETFs.

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