Digital Asset Trading Platform Zodia Markets Secures $18.25 Million for Platform Expansion
Zodia Markets, a London-based company reengineering traditional foreign exchange capital flows with real-time stablecoin settlement across borders, has successfully closed an $18.25 million Series A funding round. This round was led by New York venture capital firm Pharsalus Capital, with participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital, and other strategic investors.
Founded in 2021 by Usman Ahmad and Nick Philpott, Zodia Markets operates an "institution-first" approach, combining traditional wholesale finance infrastructure with digital asset technology. The platform targets financial institutions seeking alternatives to conventional foreign exchange and cross-border payment systems.
The funding will support Zodia Markets' geographic expansion and the development of additional institutional trading products. Additionally, the company plans to enhance its stablecoin-based payment orchestration capabilities.
Zodia Markets currently supports over 20 fiat currencies and more than 70 digital assets, including both USD and non-USD stablecoins. The platform is designed to address institutional demand for real-time wholesale trading and settlement that operates beyond traditional banking hours.
Ahmad, the company's co-founder and CEO, stated that institutional capital shouldn't have to wait for banking hours or be held back by manual workarounds. He emphasised that the platform's unique feature of supporting real-time stablecoin settlement across borders sets it apart in the industry.
Since its inception, Zodia Markets has been supported by SC Ventures, the innovation arm of Standard Chartered Bank, and OSL Group, described as Asia's leading digital asset company. However, the name of the strategic investor who participated in the funding round remains undisclosed.
With this funding, Zodia Markets aims to further establish itself as a leading player in the cross-border stablecoin payment solutions market, enabling institutional capital movement through stablecoins.
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