Liv signs MoU with Ctrl Alt to explore tokenisation of real-world assets

3 Min | 07 May 2024

Liv Digital Bank by Emirates NBD to incubate digital asset innovations
First-of-its-kind collaboration related to tokenised real-world assets in the region led by a bank
Collaboration aimed at exploring ways to provide customers with access to the growing tokenised asset sector
Strategic agreement demonstrates Emirates NBD Group’s commitment to address the demands of next-generation investors, supported by domain experts like Ctrl Alt

Dubai, UAE, 7 May 2024: Liv, UAE’s first digital bank launched by Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has signed a Memorandum of Understanding (MoU) with Ctrl Alt, B2B alternative asset solutions provider, to explore infrastructure solutions related to tokenisation of real-world assets. The MoU was signed at the Dubai FinTech Summit by Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD and Matt Ong, Founder and CEO, Ctrl Alt.

Digital Assets represent a trillion-dollar asset class and the opportunities for future innovation and market opportunities within it are considerable. Liv is enthusiastic about championing the next generation of investors and is collaborating with Ctrl Alt to ensure they remain at the forefront in offering diversified and sought-after products. With the support of Ctrl Alt’s infrastructure, Liv aims to explore avenues to grant their customers access to the burgeoning tokenised asset sector.

Several surveys have indicated changing investment patterns amongst millennials and Gen Z. A report on Middle East Investment Trends by Lombard Odier indicated that younger investors hold strong, positive long-term investment convictions. Additionally, 60% also expressed a strong preference for private market assets, including private equity, private debt, real estate and infrastructure. Further, Gen Z are investing at a higher rate and earlier age than previous generations. According to an Oliver Wyman Forum survey, almost half of Gen Zers invest in the stock market and they are 45% more likely to start investing by age 21 than millennials and two to four times more likely than Gen X and baby boomers.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said: "Liv is the first bank in the UAE to explore offering tokenised real-world asset investing opportunities to customers, and we are delighted to co-partner with a leading infrastructure provider such as Ctrl Alt for this initiative. As the innovation incubator in Emirates NBD Group, Liv has always remained at the forefront of digital innovation, seeking to collaborate with partners to explore and experiment with technologies that are in demand globally and in the UAE.”

He added: “According to a report by the Boston Consulting Group, asset tokenisation will expand into a USD16.1 trillion business opportunity by 2030. Coupled with the growing demand for alternative investment avenues from millennials and the next generation of investors, this represents an opportunity for us to explore the potential of this domain, aligning with our vision to be the most innovative bank for our customers, people and communities."

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, said: “Tokenisation is considered the future of financial markets, offering benefits such as lower costs and reduced settlement times. As pioneers in technology adoption in the region, we are actively exploring the tokenisation space to maintain our competitive edge against more agile fintech companies. Our exploration of solutions related to tokenised real-world assets further builds on Liv’s aspiration to serve our Gen Now customers by providing a range of innovative and in-demand products to meet their financial needs.”

Matt Ong, Founder and CEO, Ctrl Alt, said: “At Ctrl Alt, we are passionate about providing accessible infrastructure solutions to the thriving tokenised asset sector from Digital SPVs to Fund Structuring.

We are really excited to be partnering with Liv who are paving the way for tokenised real-world asset investing. Liv truly represents the future of banking with its clear customer-centric focus on innovation and is waving the flag for the next generation of investors who are demanding diversification. We are excited about the opportunity that this partnership will bring to their customers and cannot wait for what is to come.”

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