Zodia Markets Approved to Registered as Virtual Asset Service Provider (VASP) in Ireland

Zodia Markets, the Standard Chartered-backed digital asset exchange and brokerage platform, announces that it has received its registration as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland (CBI). 

The VASP registration, which has been granted to Zodia Markets (Ireland) Limited, will enable the provision of OTC trading and exchange services to institutional clients. CBI’s approval will allow Zodia Markets’ to deepen its position as a trusted partner for digital asset trading in Europe, and further highlights the company’s firm commitment to collaborate with European regulators and operate in compliance. The move precedes the implementation of the Markets in Cryptoassets Regulation (MiCA) in the EU, which is due to take effect towards the end of 2024 and will require the authorisation and supervision of crypto asset service providers.

Michael Walsh, CEO of Zodia Markets Ireland and Head of Distribution, said: "VASP registration is an exciting development for Zodia Markets, and we’re delighted to be part of the burgeoning Irish digital assets ecosystem. The registration will act as a launchpad for the business to enter the EU, a market where we see significant opportunity and demand for our offering, and it paves the way for future MiCA authorisation when the regulations are implemented. We believe our VASP registration is further testament to the highest standards of compliance, security and risk procedures that run throughout the business, and which make us a trusted partner for our clients."

This license follows from the firm receiving crypto asset registration from the UK’s Financial Conduct Authority (FCA) in July 2022 and its In-Principle Approval (IPA) by Abu Dhabi Global Markets (ADGM) in September 2023.