Zodia Markets, a cryptoasset exchange and brokerage for institutional clients backed by Standard Chartered, is celebrating its ‘watershed moment’ after securing cryptoasset approval from the UK’s financial watchdog.
Established in June 2021, Zodia Markets is a partnership between SC Ventures, the fintech investment and ventures arm of international banking group Standard Chartered, and BC Technology Group, parent of Hong Kong Securities and Futures Commission (SFC)-licensed digital-asset platform, OSL.
Following its listing by the Financial Conduct Authority (FCA) on the UK’s Financial Services Register, Zodia Markets has launched its institutional crypto exchange and brokerage business.
Usman Ahmad, CEO at Zodia Markets, said: “While the digital asset markets have recently seen volatility and downward pressure, adoption continues unabated, with institutions entering the market at rapid pace. At Zodia Markets, our mission is to be the most trusted trading partner for institutional participants as they navigate this rapidly evolving asset class.
With our hugely experienced team of professionals from both digital asset and traditional finance backgrounds, and by providing the highest standards of security, risk and compliance integrated from inception, we meet the demands of institutions seeking a credible and reliable trading partner for cryptoassets. The FCA registration is a testament to our commitment to the highest standards of compliance.”
Zodia Markets’ exchange platform enables clients to connect to a high-throughput, low-latency matching engine through FIX API connectivity, leveraging the same standards as electronic trading for traditional equities, FX or fixed income.
Alex Manson, head of SC Ventures, said: “Combining OSL’s deep expertise in operating regulatory compliant digital asset businesses and cutting-edge technology, with the bank’s governance, regulatory oversight, and frontier markets experience, Zodia Markets is in prime position to provide secure, reliable and compliant access to digital assets for its institutional client base.”