Global: R3 Joins Emirates NBD Digital Asset Lab for Fintech and Digital Asset Innovation

Distributed ledger technology firm R3 has become a council member of the Digital Asset Lab, a pioneering initiative established by Emirates NBD to explore and test new financial technologies and digital assets. This collaboration positions R3 alongside PwC and Fireblocks within the Digital Asset Lab, a venture unveiled at the Dubai FinTech Summit in May 2023.

The primary objective of the Digital Asset Lab is to foster and expedite innovation in digital assets and financial services within the United Arab Emirates. Emirates NBD, operating within this lab, aims to engage with industry experts to comprehend the potential applications of digital assets and their underlying technologies within traditional financial services.

Abdulla Qassem, Group Chief Operating Officer at Emirates NBD, emphasizes the lab’s role in enhancing their understanding of current and emerging technologies, including associated risks and benefits. This knowledge will enable the effective and secure integration of advancements into their services. The addition of R3 to the lab reinforces the bank’s dedication to leading innovation in the swiftly evolving financial landscape through state-of-the-art technology.

David Rutter, Chief at R3, notes, “Our efforts will contribute to vital initiatives centered around asset tokenization, distributed ledger technology, and digital transformation in regulated financial markets.”