Twelve months ago, Zodia Markets took a decisive step in its global expansion by establishing its Abu Dhabi entity within ADGM. In that short time, Zodia Markets AME (ZMAME) has become one of the most compelling proof points for how regulated digital asset infrastructure can transform cross-border finance. From building multi-currency local rails across the UAE to one minute settlement speeds, the business has not only scaled rapidly, it has reshaped expectations across the region.

To mark ZMAME’s one-year anniversary, we sat down with Ayad Butt, Senior Executive Officer (AME) to reflect on the milestones that defined the past year, the acceleration of institutional adoption across the Middle East and the strategic role ZMAME is playing in Zodia Markets’ growth. In this candid conversation, Ayad shares his perspective on Abu Dhabi’s rise as a digital-asset hub, the opportunities unlocked by regulatory foresight and what lies ahead as Zodia Markets continues to bridge traditional finance and the next generation of global payments.

It’s been a year since Zodia Markets AME was established in Abu Dhabi. Looking back, what have been the biggest milestones in that first year?

Establishing local AED, BHD, USD and EUR rails in the UAE with Standard Chartered Bank and Zand Bank, including segregated client money accounts. These rails support combined with our operational efficiency and tech infrastructure enable industry leading settlement speed for fiat versus digital asset transactions.

The ZMAME infrastructure has allowed the group to serve client transaction requirements in both size and speed of settlement terms. We have broken new ground by settling AED versus USD stablecoin client transactions larger than $50 million US in less than 10 minutes. This speed, consistency and efficiency is the gold standard that ZMAME maintains every day.

ZMAME made Zodia Markets Group an attractive partner for UAE based family office, Gewan Holdings and NASDAQ listed crypto derivative and structured products powerhouse, Metalpha to form a joint venture in Abu Dhabi. The JV, called ZMG7, was launched in January 2025 to fuel further growth in the success of ZMAME and the ZM group in the MENA region and beyond.

Why was Abu Dhabi and the ADGM ecosystem the right choice for Zodia Markets’ AME regional hub?

Abu Dhabi and the UAE presented one of the fastest-growing digital-asset ecosystems globally and ADGM offered a robust, region-leading regulatory framework tailored to virtual assets. It was the ideal moment to deepen our presence and demonstrate our long-term commitment to building in major global financial hubs.

Under ADGM’s oversight, we can serve clients across AME more effectively, leveraging domestic banking for faster settlement, while anchoring our operations in a framework built on compliance, risk management and trusted, regulated infrastructure.

How have client needs in the Middle East differed to those in other regions and what unique opportunities does this market present?

The growth of the UAE and wider Middle East ecosystem has been fuelled by the robust regulatory regimes in place. Led by ADGM, the regulations in UAE have inspired institutions, not only in the UAE but also globally, to build their digital assets trading and treasury management desks in UAE. The regulations have given them the confidence of investing in their digital assets operations to take advantage of the opportunities presented by blockchain technology.

With AED being pegged to the USD and the stable marcro economics of UAE, AED has become a preferred fiat currency of choice to enter and exit digital assets. Thats where our local rails and operations serve institutions to help them make the most of the advantages of stablecoins and other digital assets.

Digital assets are moving into the mainstream of institutional finance. How do you see Abu Dhabi, and the wider MENA region, shaping that global trend?

Abu Dhabi and the wider MENA region are leading this global shift for three primary reasons:

1. A strong regulatory umbrella
2. Access to capital
3. Infrastructure and quality of life that attract global talent

For institutional investors to commit to this region, a secure regulatory environment is essential. ADGM has set the benchmark.

To build a thriving ecosystem, you also need local entrepreneurs empowered by local capital, a combination that has proven incredibly powerful in the UAE. This success has captured global attention.

Finally, with world-class infrastructure, global connectivity and a favourable tax environment, the UAE has become an attractive destination for top talent to build their lives and careers.

Zodia Markets positions itself as a trusted bridge between traditional finance and digital assets. How has that resonated with stakeholders in the region?

Very strongly. We have earned trust through consistency, security and efficiency, values that resonate deeply with regional clients.

Continued adoption will depend on leveraging the UAE’s strong regulatory regime while making institutional access to digital assets faster, safer and more seamless. Connecting TradFi and digital assets must feel frictionless and we are committed to being the bridge that delivers this transformation as capital begins to move in new ways.

What has been the biggest challenge in building a presence in Abu Dhabi and how have you and the team overcome it?

The biggest market challenge remains establishing reliable banking rails. Banking for digital-asset institutions is still evolving and there are limited consistent partners available.

What differentiates Zodia Markets is our heritage and unwavering support from Standard Chartered, which gives us the reliability needed to serve clients in business-critical moments where speed and trust are paramount.

Over time, we hope to see more banking providers embrace blockchain and digital-asset businesses. For the ecosystem to reach its full potential, strong, consistent financial rails are essential.

Looking ahead, what are your priorities for the next 12–18 months in AME, and how do they fit into Zodia Markets’ global growth strategy?

Our vision is reshape how finance moves by growing our market share and continuing to lead cross-border payments through stablecoin liquidity with more volume and more clients, across more currencies and assets.

We are also pushing into Africa, LATAM and the United States, closely tracking regulatory developments as we prepare to serve these regions. These are some of the world’s busiest capital corridors and we see significant opportunity through local partnerships or a direct presence.

On the technology front, we are investing in a robust settlement portal enabling seamless 24/7 transactions across fiat, stablecoins and crypto. Ultimately, our goal is risk-free, atomic settlement, so capital can move at the speed of data.

Finally, what are you most excited about as Abu Dhabi Finance Week approaches and what role do you hope Zodia Markets will play in shaping the conversation?

ADFW is my favourite event of the year. We are proud to host many of our partners and clients, it’s a privilege.

I’m excited to see the evolution of conversations around RWAs, banking for digital-asset companies and credit markets (including secured borrowing and lending using digital assets as collateral). These are critical pillars for the next wave of blockchain adoption. I look forward to helping drive these discussions as a committed member of the ADGM community.