News

Zodia Markets, the institution-first digital asset brokerage, has been granted a Financial Services Permission (FSP) by the Financial Services Regulatory Authority (FSRA) of ADGM. The licence grants Zodia Markets (AME) Limited permission to operate a regulated virtual asset brokerage in ADGM cementing the firm as a global leader and reiterating its commitment to the highest standards.

This marks the fourth operating entity for the Standard Chartered-backed firm, following Jersey (July 2024), Ireland (2023) and the United Kingdom (2022). Headed up by the newly promoted Ayad Butt, the new entity will offer the same comprehensive digital asset solutions for clients, while leveraging domestic banking systems to enable faster local settlement. Looking ahead, the firm plans to deepen its capital market solutions, further bridging traditional finance with digital assets, to cater to the diverse needs of its growing client base around the world.

Ayad Butt, Senior Executive Officer for Zodia Markets (AME) Limited comments, “Abu Dhabi and the UAE is one of the fastest growing digital asset ecosystems. Digital asset adoption continues to accelerate across Africa and Middle East (AME) which makes this the ideal time to deepen our presence in the region, while reiterating our commitment to building in major financial hubs worldwide. It’s an exciting growth phase for us as new and existing clients alike will benefit from our global network, connectivity and capability. Under the robust regulatory framework in ADGM, we envision building a trading and innovation hub, to not only serve clients in the AME region, but also in other major markets around the world.

We’d like to thank ADGM for their collaborative approach and engagement. Their respected and thorough process ensures we can deliver a service our clients trust, that is backed by the highest standards of compliance and risk management.”

ADGM was the first in the region to introduce a comprehensive regulatory framework for digital assets to foster new business models and investment choices. Operating in the “capital of capital”, their role is to advocate a progressive financial services environment while upholding integrity of the markets and robust investor protection.

Arvind Ramamurthy, Chief Market Development Officer at ADGM, “We are pleased to welcome Zodia Markets to ADGM’s growing digital asset ecosystem, further cementing its reputation as a global financial hub and its growing prominence as a leading wealth management hub. Their decision to establish a presence in ADGM underscores our commitment to fostering a vibrant, yet regulated environment for innovative financial services companies. The robust regulatory framework at ADGM is designed to support firms like Zodia Markets, ensuring that their clients benefit from the highest levels of trust, security and governance.”

The launch of Zodia Markets (AME) Limited is expected to add to the growth trajectory of the firm as they join the growing number of investment firms, hedge funds, exchanges, and financial institutions operating within the ADGM ecosystem.