Commercial Bank International (CBI), a leading UAE-based bank, has joined forces with Zumo, an innovative digital-assets-as-a-service platform.
The collaboration between CBI and Zumo is designed to advance the sustainability of digital assets.
The partnership stands out for its focus on sustainability, particularly through the potential development of tools for tracking the carbon footprint of digital assets and integrating carbon offsetting. This move is poised to set new standards in the financial industry by ensuring that digital assets contribute positively to sustainability goals.
Additional features of this partnership include the potential integration of Zumo’s technology into CBI’s banking services, which could transform the landscape of digital asset management within the banking sector. By leveraging Zumo’s expertise, CBI aims to enhance its digital asset offerings, reinforcing its position as a leader in the financial technology space.
Commercial Bank International’s Chief Strategy & Innovation Officer, Giovanni Everduin, emphasized the significance of this partnership: “Our partnership with Zumo marks a significant milestone in CBI’s ongoing commitment to innovation and sustainability. Aligned with our vision of partnership driven innovation, we look forward to collaborating with Zumo to become one of the first banks in the world to provide carbon footprint insights with carbon offsetting for digital assets. This revolutionary capability will ensure that, as digital assets become further embedded within the financial ecosystem, customers and institutions have the required tools and data to ensure their sustainability goals are tracked and achieved.”
Zumo’s Chief Operating Officer, Clark Povey, also shared his enthusiasm: “We’re delighted to announce our strategic partnership with Commercial Bank International, one of the UAE’s most innovative banks, headquartered in Dubai. Our collaboration with CBI will see Zumo’s pioneering digital assets and blockchain technology complement CBI’s financial expertise and innovative approach to drive sustainability. Zumo solves the biggest challenges in digital assets for financial institutions by providing business-critical technologies to navigate the rapidly evolving digital asset landscape, and with Zumo’s technology and leadership in sustainability of digital assets, the exciting journey ahead is just beginning.”
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