Business
Metalpha Announces Joint Venture with Abu Dhabi based Gewan Holding and subsidiary of Standard Chartered Zodia Markets to Expand into the Middle East Digital Asset Market
HONG KONG, Feb. 10, 2025 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) is pleased to announce that its wholly owned subsidiary, Metalpha
About this update from Metalpha Technology Holding Limited
[{"type":"text","content":"HONG KONG, Feb. 10, 2025 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) is pleased to announce that its wholly owned subsidiary, Metalpha Limited, has partnered with Gewan Holding and Zodia Markets to establish ZMG7 LLC, a joint venture aimed at driving the growth of the digital asset market in the Middle East. This milestone partnership marks a significant step in the company's global expansion strategy and strengthens the UAE's position as a key hub for digital asset management.\n\nAbu Dhabi-based Gewan Holding, renowned for its diverse portfolio of strategic investments across various industry sectors, has long been a driver of innovation in the UAE capital's financial sector, and beyond.\nZodia Markets is a subsidiary of Standard Chartered, a UK bank with a presence largely in emerging markets, such as Asia, Africa and the Middle East. Standard Chartered launched Zodia Markets in 2021 alongside OSL, in a move that highlighted the Bank's desire to be leaders in the development of global digital-asset infrastructure.\nAdrian Wang, CEO of Metalpha Technology Holding Limited, commented: \"I'm very excited for our partnership and shared vision of advancing digital assets in the Middle East. Aiming to play a pivotal role to drive mass adoption of digital assets in the region, we look forward to expanding our presence in this dynamic market.\"\nThe formation of ZMG7 LLC comes at a time when the UAE is actively embracing fintech innovation and digital asset regulatory frameworks. As part of this joint venture, Metalpha will leverage its expertise in derivatives innovation, market structure optimization, and risk management to support ZMG7 LLC in building a fully compliant and globally competitive digital asset trading and wealth management platform.\nAbout Metalpha Technology Holding Limited\nFounded in 2015, Metalpha Technology Holding Limited (Nasdaq: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.\nForward-Looking Statements\nThis press release contai...