Standard Chartered-Backed Zodia Markets Obtains FCA Crypto Registration

Zodia Markets, a UK-based cryptoasset exchange and brokerage for institutional clients backed by Standard Chartered, today announced that it has received cryptoasset registration from the UK Financial Conduct Authority (FCA) and officially launched its institutional crypto exchange and brokerage business.

Zodia Markets' registration marks the first time a crypto trading business backed by a leading international bank has been listed by the FCA on the UK's Financial Services Register.

Zodia Markets CEO, Usman Ahmad said: "Whilst 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 was established in June 2021 as a partnership between SC Ventures, the innovation, fintech investment and ventures arm of Standard Chartered, and BC Technology Group, Asia's leading digital asset company and parent of Hong Kong Securities and Futures Commission (SFC)-licensed digital-asset platform, OSL.

Head of SC Ventures, Alex Manson 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."

Source: PRNewswire