London based, FCA registered digital asset platform Zodia Markets has announced that it has been granted In-Principle Approval (IPA) fulfilling the pre-requisites to receive a Financial Services Permission (FSP) that will allow the commencement of regulated activities as an OTC broker-dealer in virtual assets by Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s Capital.

Zodia Markets, which is backed by SC Ventures, the innovation and ventures unit of Standard Chartered Bank, said it has chosen to expand into the UAE as the region establishes itself as a rapidly emerging hub for digital assets. The strategic expansion provides institutional investors from the Middle East and Africa with reliable access to this growing, alternative asset class, consolidating Zodia Markets’ position as an integral part of the global digital asset landscape.

Salem Mohammed Al Darei, CEO of ADGM Authority said,

“We congratulate Zodia Markets on receiving the IPA from ADGM and welcome them to our vibrant ecosystem. Our evolving regime, progressive regulatory environment, and strong value proposition support businesses in the digital asset space, as we remain steadfast in upholding the highest standards. The harmony of traditional and new-age finance in Abu Dhabi with an international leading digital asset firm such as Zodia Markets that is backed by the well-established Standard Chartered will contribute to further enhancing the attractiveness of ADGM as a preferred destination for global entities.”

Andrew Price, Chief Compliance Officer of Zodia Markets said,

“Abu Dhabi has already established a clear and forward-looking virtual asset regulatory framework. This early adoption and foresight have enabled it to attract innovation, talent and investment while raising the bar for compliance in virtual asset firms. It has been a pleasure working with the FSRA so far and I look forward to deepening our roots in the region.”

Usman Ahmad, CEO of Zodia Markets said,

“We are delighted to achieve this milestone on the journey to establish ourselves in the Middle East. We are excited at the opportunities this will open up for our business and this demonstrates progress in our expansion as a leading institution-first digital asset trading business. Our goal is to provide institutions seamless access to trade digital assets without compromising on the standards and controls that exist in traditional financial markets.”

About Zodia Markets

Zodia Markets is an institution-first digital asset marketplace whose mission is to make the unfamiliar, familiar. The company is an institutional trading partner for corporations and institutions who want to trade in digital assets, but who don’t want to compromise on the standards and principles associated with traditional finance. Zodia Markets is backed by SC Ventures, the innovation and ventures unit of Standard Chartered, and BC Technology Group, Asia’s leading digital asset company and parent of SFC-licensed digital asset platform OSL.