Zodia Markets has successfully raised $18.25 million in a Series A funding round led by Pharsalus Capital to help expand its digital asset operations.
The funding round also saw participation from The Operating Group, Token Bay Capital, Circle Ventures, XVC Tech, and others.
The capital raised will be utilized to expand Zodia Markets’ global presence and develop innovative trading products specifically designed for international stablecoin settlements.
This move aligns with the growing demand for secure and efficient trading solutions in the traditional banking services, as financial institutions look to partner, whitelabel, and receive exposure to the rise of global stablecoin settlements for FX and remittances.
Zodia Markets aims to provide a compliant trading environment for institutional investors, leveraging the expertise of its parent company, Standard Chartered, to navigate the complexities of the digital asset landscape.
The platform is designed to provide sufficient liquidity to its international clients, especially where FX/stablecoin pairs are at the forefront of transactions and may include more local, sovereign currencies from developing nations.
