Digital asset trading platform, Zodia Markets, secured $18.25 million in funding to expand its operations.
Zodia Markets Secures $18.25 Million Series A Funding for Geographic Expansion and Product Development
Zodia Markets, a London-based company that enables institutional capital movement through stablecoins, has announced the successful closure of an $18.25 million Series A funding round. The funding round was led by New York venture capital firm Pharsalus Capital and included 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.
Ahmad, the co-founder and CEO of Zodia Markets, stated that institutional capital shouldn't have to wait for banking hours or be held back by manual workarounds. The platform operates beyond traditional banking hours, offering real-time wholesale trading and settlement.
Zodia Markets reengineers traditional foreign exchange capital flows with real-time stablecoin settlement across borders. The company currently supports over 20 fiat currencies and more than 70 digital assets, including both USD and non-USD stablecoins.
The funding will support Zodia Markets' geographic expansion and the development of additional institutional trading products. The new products will focus on cross-border stablecoin payment solutions, aiming to enhance the company's stablecoin-based payment orchestration capabilities.
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. The company has not mentioned any new geographic expansion or product development plans in the provided paragraph.
The funding round does not contain any advertisements, and the founder of Zodia Markets, who co-founded the company with Nick Philpott in 2021, is not specified in the available search results. The company has not mentioned any new investors or investors' participation in the Series A funding round in the provided paragraph.
Zodia Markets plans to continue its mission of providing seamless, efficient, and secure institutional capital movement through stablecoins, bridging the gap between traditional finance and the digital asset ecosystem.
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