R3 Company is a lead consultant for the Digital Assets Lab on orders from Emirates NBD
Emirates NBD, a prominent banking group in the Middle East, North Africa, and Turkey, has taken a significant stride in its commitment to financial innovation by welcoming R3, a leading blockchain services and distributed ledger technology provider, to its Digital Assets Lab Advisory Board.
This move positions R3 alongside established entities such as PwC and the Fireblocks platform, forming the foundational members of this pioneering initiative.
At the forefront of this collaboration is Corda, an innovative platform developed by R3, renowned globally for its coding capabilities and distributed applications designed to power regulated digital financial solutions. Corda distinguishes itself by offering licensed distributed ledgers, advanced asset modeling functionalities, and the orchestration of multi-party workflows within a scalable and interoperable distributed system.
The Digital Assets Lab, initiated by Emirates NBD, aims to serve as a catalyst for innovation in the realm of digital assets and financial services across the UAE.
Launched in May 2023 during the Dubai FinTech Summit, the lab is dedicated to accelerating the development of digital assets and financial services in the country.
Abdullah Qassem, CEO of Operations at Emirates NBD, expressed enthusiasm about R3’s inclusion in the Digital Assets Lab, emphasizing its vital role in supporting the bank’s innovation strategy. The lab serves as a testing ground for financial technologies and emerging digital asset solutions.
As a leader in digital banking services, Emirates NBD is committed to staying at the forefront of the rapidly evolving financial sector.
David Rutter, CEO of R3, highlighted the collaboration as a significant step forward, aligning with the region’s progress and advancements in global financial innovation.
The establishment of the lab represents a crucial milestone in the flourishing journey of the financial technology sector.
The Digital Assets Lab, created to enhance the understanding of current and emerging technologies, aims to adapt and integrate valuable insights into its services effectively and securely. Its primary focus lies on digital assets and how leveraging relevant core technologies can empower clients to manage their financial requirements efficiently in an environment tailored specifically for digital assets.
In conclusion, the appointment of R3 to the Digital Assets Lab Advisory Board signals a strategic move by Emirates NBD to harness cutting-edge technologies in the financial sector.
This collaboration not only reinforces the commitment to staying ahead of the innovation curve but also positions the Digital Assets Lab as a hub for transformative initiatives in regulated digital assets, blockchain, and digital finance markets.
