Distributed ledger technology firm R3 has joined PwC and Fireblocks as a member of the Digital Asset Lab, a facility for testing new financial technologies and digital assets established by Emirates NBD.
The Digital Asset Lab was launched in May 2023 during the Dubai FinTech Summit, aiming to accelerate digital asset and financial services innovation in the UAE. Through this initiative, Emirates NBD seeks to collaborate with industry experts to explore how digital assets and their underlying technologies can be integrated into traditional financial services.
Abdulla Qassem, group chief operating officer at Emirates NBD, commented, “The Digital Asset Lab 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 effectively and securely adapt and integrate these advancements into our services.”
He noted that R3’s involvement in the Lab underscores the bank’s commitment to leading innovation in a rapidly evolving financial landscape through cutting-edge technology.
David Rutter, chief of R3, stated, “Our efforts will contribute to vital initiatives focused on asset tokenisation, distributed ledger technology, and digital transformation in regulated financial markets.”