According to a local report, users can now trade Bitcoin (BTC) and Ether (ETH) against the dirham through M2’s spot markets.
The M2 team reportedly highlighted that this integration allows for a more agile response to market fluctuations, offering an easy and efficient way for users to convert their traditional currency into digital assets.
Kimmel also emphasized that the new service aligns with the UAE’s stringent regulatory framework on digital assets, which is well-known for its robust consumer protection measures. According to the CEO, this regulatory oversight ensures that the exchange operates within one of the world’s most secure financial environments, providing peace of mind for users engaging in digital asset transactions.
M2’s recent introduction of direct crypto trading services in the UAE highlighted the growing demand for digital assets in the region. This expansion of offerings came on the heels of a notable partnership between Layer 1 blockchain firm Mantra and leading UAE real estate developer MAG. The two companies recently announced a collaboration to tokenize $500 million worth of real-world assets (RWA) and unlock unique investment opportunities in the Middle Eastern tokenized real estate market,
Mantra claimed the partnership was designed to leverage its secure, RWA-focused blockchain alongside MAG’s established position in the UAE’s real estate sector.
Also Read: Are Stablecoins Becoming the New ‘Central Business Digital Currencies’?
New leadership came in 2025; M2 shifted away from its exchange model
M2 underwent a leadership change as it reassessed its strategy. In April 2025, the company appointed James Greenwood as CEO and Bill Qian as managing director, while Bijan Alizadeh remained a board member and shareholder representative.
The leadership changes came as competition among regulated digital-asset platforms in the UAE intensified and institutional demand became a larger focus for crypto businesses operating in the region.
The company also said it would reposition itself as a digital-asset wealth management platform, targeting high-net-worth individuals, family offices, institutional investors and corporate treasuries rather than concentrating primarily on retail crypto trading. The new strategy placed greater emphasis on customized investment solutions, custody, yield products, liquidity and treasury management.
The change is significant because it means M2’s original UAE retail trading proposition is no longer the central focus of the business.
UAE’s crypto market has also changed
Abu Dhabi’s ADGM has continued developing its framework for virtual assets, while Dubai’s Virtual Assets Regulatory Authority (VARA) oversees virtual-asset activities in Dubai. The UAE has also introduced rules covering areas such as fiat-referenced tokens and other digital-asset activities.
The regulatory environment has attracted major international exchanges and financial firms, increasing competition for companies operating in the country’s crypto market.
For M2, the shift toward wealth management can therefore be viewed as an attempt to compete for a different segment of the market rather than simply fight for retail trading volume.
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