Wednesday, 8 November, 2023 – UAE – Zodia Markets, the institution-first digital asset exchange and brokerage platform backed by Standard Chartered, is pleased to announce the appointment of Ayad Butt as Head of Sales and Trading for Africa and Middle East. Ayad will be based in Abu Dhabi, and his appointment coincides with Zodia Markets’ receipt of…
Wednesday, 8 November, 2023 – UAE – Zodia Markets, the institution-first digital asset exchange and brokerage platform backed by Standard Chartered, is pleased to announce the appointment of Ayad Butt as Head of Sales and Trading for Africa and Middle East. Ayad will be based in Abu Dhabi, and his appointment coincides with Zodia Markets’ receipt of In-Principle-Approval from ADGM, reflecting the company’s ongoing commitment to the region.
Ayad’s appointment underscores Zodia Markets commitment to providing innovative, comprehensive, and professional digital asset services to its client base. Bringing a wealth of experience to this new role, he was most recently running his own ADGM registered Crypto Derivatives trading business, 5 Lanes. Prior to establishing 5 Lanes, he held a prominent position at Bloomberg having also previously served in a variety of senior FX Options or Macro trading roles in firms including Credit Agricole, Astignes Capital, Citibank and Credit Suisse.
Ayad shared: “I am excited to join Zodia Markets and look forward to contributing to the growth of an innovative digital assets franchise that offers a comprehensive range of products to a global client base. Africa and the Middle East are a key focus for growth, and I look forward to developing these markets alongside Zodia Markets’ founders, team, and partners.”
Usman Ahmad, CEO of Zodia Markets said: “I am delighted to welcome Ayad to Zodia Markets, his experience enhances our teams’ already extensive capabilities. Ayad’s entrepreneurial blend of digital asset and traditional finance experience will complement and advance Zodia Markets’ strategic growth ambitions.”
Media enquiries: Please reach out to Marketing@zodiamarkets.com
This story covers three topics. First, as markets evolve, they often see a wave of new entrants who are subject to lower regulatory requirements than the incumbents, sometimes known as ‘regulatory arbitrage’.
Cryptoasset markets are often thought of as innovative, which is true in some cases, but not all. Slow processes and regulation can certainly be frustrating, but market participants should always be careful to not be blinded by neophilia, or a love of novelty.
The Ethereum merge, completed in September, transitioned the blockchain’s consensus mechanism from an energy-intensive proof-of-work (POW) to a proof-of-stake (POS) protocol. This has reduced energy consumption by more than 99.9%.1
Zodia Markets is proud to announce its signing of the Armed Forces Covenant, demonstrating its commitment to treat fairly those who serve, or have served in the military, and their families, and emphasising the company’s dedication to fulfilling its social responsibilities.
The Securities and Exchange Commission is expected to follow the strategy employed in approving spot bitcoin exchange-traded funds for spot Ethereum ETFs, starting with rejections and ultimately granting approval on the initial final deadline on May 23, according to Standard Chartered Bank.
Alex Pugh explores how blockchain is shaking up the post-trade process
Borderless by design, these modern digital tokens can make cross-border commerce much cheaper and easier.
