The collaboration focuses on tracking sustainability in digital assets, aligning with CBI’s broader aims to support innovative, technology-driven financial solutions for its customers. This agreement highlights CBI’s role within the UAE’s expanding digital asset market, projected to generate approximately USD 453.2 million in revenue by 2024, with forecasts reaching USD 616.8 million by 2028 according to the official press release.
As the UAE strengthens its digital asset regulations and infrastructure, CBI and Zumo’s joint efforts are expected to advance the integration of sustainable blockchain technology within the region’s financial services landscape.
The UAE's progressive regulatory framework has supported its emergence as a global centre for digital assets and blockchain. Officials from CBI noted that the bank’s partnership with Zumo is a step toward offering clients greater insight into the carbon footprint associated with digital assets, alongside carbon offsetting options.
According to them, this capability would provide institutions and individuals the data needed to track and meet their sustainability targets as digital assets become more embedded in the financial sector.
Zumo representatives echoed this vision, describing the collaboration as a strategic alignment of CBI’s financial services with Zumo’s expertise in blockchain technology and sustainability. They remarked that Zumo’s technology aims to address major sustainability challenges within digital assets for financial institutions, positioning the partnership as a move toward sustainable digital asset adoption in the UAE.
Zumo brings to the table infrastructure essential for financial institutions seeking sustainable digital asset solutions. As an early signatory of the Crypto Climate Accord and the Abu Dhabi Sustainable Finance Declaration, Zumo contributes to industry-wide guidelines focused on reducing the carbon footprint of digital assets. The partnership with CBI is set to encourage a wider adoption of digital assets within the UAE’s banking sector, leveraging Zumo’s sustainability-focused infrastructure.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now