Zodia Markets Secures $18.25 Million for Expansion and Stablecoin Services
Zodia Markets, a crypto trading firm majority-owned by Standard Chartered, has secured $18.25 million in Series A funding led by Pharsalus Capital.
- Funding will support Zodia's international expansion and development of stablecoin payment services.
- Zodia targets financial institutions with a focus on real-time stablecoin settlement for cross-border transactions.
- CEO Usman Ahmad emphasized the need for institutional capital to operate outside traditional banking hours.
- Stablecoins are pegged to fiat assets, providing price stability in the digital asset ecosystem.
- The funding round included investments from Circle Ventures, The Operating Group, and XVC Tech.
Major jurisdictions like the U.S. and Hong Kong are establishing stablecoin regulatory frameworks.