Abu Dhabi: Standard Chartered's Crypto Firm Zodia Gets Broker Approval
Standard Chartered-backed Zodia Markets has received in-principle approval from the Abu Dhabi Global Market [ADGM] to operate as an OTC crypto broker-dealer in the region. According to the official guidelines, the in-principle level marks the third step in the five-stage application process. Thus, the company will next have to get final approval and then go through an operational launch test. Loading… Twitter embed code generator Also Read: 70% Vs. 500%: Warren Buffet’s Berkshire Underperforms Bitcoin Salem Mohammed Al Darei, CEO of ADGM Authority, asserted that the latest development will help bolster the attractiveness of the region as a preferred destination for global entities. In fact, the crypto-friendly nature of Abu Dhabi has been a boon for firms like Zodia that have been looking to fortify their presence in the Middle East. Zodia’s Chief Executive, Usman Ahmad, told The Financial News, “Since Standard Chartered was one of the early mo...