Mentioned:
There’s a new player coming after the emerging opportunity for crypto in the Middle East. And they’re a publicly traded company.
What’s happening:
- Metalpha Technology (NASDAQ: MATH) has launched a new digital asset joint venture with Gewan Holding and Zodia Markets known as ZMG7
Why it matters:
- ZMG7 is aiming to be on the leading edge of trading digital assets at institutional scale within the United Arab Emirates, which has been accelerated by the government continually making sweeping regulatory changes to embrace crypto and digital assets
Going deeper:
- Gewan Holdings is one of the most prominent investment companies in Abu Dhabi, having made significant bets on everything from energy infrastructure to real estate to technology within the Middle East
- Zodia Markets is a subsidiary of multinational banking giant Standard Chartered Bank and was the first brokerage company in the United Kingdom to earn full regulatory approval from the UK Financial Conduct Authority for trading digital assets
The intrigue:
- Singapore based digital asset brokerage and Bitcoin mining hardware leasing company Antalpha Technologies is one of the founding shareholders of Metalpha Technologies, owning more than 10% of the entire company
