Zodia Markets Raises $18.25 Million Series A to Expand Institutional Crypto Trading and Stablecoin Solutions
Zodia Markets, a UK-based institutional digital asset trading platform majority-owned by Standard Chartered, has secured $18.25 million in a Series A funding round. The investment was led by New York-based venture capital firm Pharsalus Capital, with participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital, and other strategic investors. The funds will support Zodia Markets’ expansion into new markets and the development of trading products for international stablecoin settlements.
Founded in 2021 by CEO Usman Ahmad and Head of Partnerships Nick Philpott, Zodia Markets aims to provide institutional clients with secure, compliant, and efficient access to digital asset markets. The platform supports over 20 fiat currencies and more than 70 digital assets, including various USD and non-USD stablecoins. It offers services such as near-real-time digital asset trading, settlement, and custody, catering to hedge funds, asset managers, and other institutional investors.
The Series A funding will enable Zodia Markets to accelerate its global expansion and enhance its stablecoin payment solutions. The company plans to develop additional institutional trading products for cross-border stablecoin settlements, aiming to reengineer traditional foreign exchange capital flows with real-time stablecoin settlement across borders. This initiative aligns with the growing institutional interest in cryptocurrencies and the increasing adoption of stablecoins for international transactions.
Zodia Markets has been backed from inception by SC Ventures, the innovation unit of Standard Chartered Bank, and OSL Group, Asia’s leading digital asset company. The company’s mission is to be the most trusted and reliable partner for institutional crypto trading, offering familiar institutional capabilities to navigate the digital asset markets. Zodia Markets emphasizes the importance of integrating digital assets with enhanced banking rails to ensure long-term success and adoption.
The recent funding round underscores the growing confidence in Zodia Markets’ strategy and vision. The company’s focus on providing secure, compliant, and efficient access to digital asset markets positions it well to capitalize on the increasing institutional interest in cryptocurrencies. With the support of its investors and partners, Zodia Markets is poised to play a significant role in the evolution of digital asset trading for institutional clients.
