Zodia Markets, a London-based digital asset platform centered on enabling institutional capital flows through stablecoins, has raised US$18.25 million in a Sequence A funding spherical, amid rising demand for real-time wholesale buying and selling, settlement, and cross-border transactions utilizing stablecoins.
The spherical was led by Pharsalus Capital, a New York-based enterprise capital agency, with participation from Circle Ventures, The Working Group, XVC Tech, Token Bay Capital, Human Capital, and different strategic traders.
Based in 2021 by Usman Ahmad and Nick Philpott, Zodia Markets has been backed since its inception by SC Ventures, the innovation arm of Normal Chartered Financial institution, and OSL Group, a Hong Kong-based digital asset firm.
The agency gives an institutional-first strategy combining wholesale finance with the continual availability of digital belongings and has developed stablecoin-enabled flows throughout a number of currencies and areas.
Usman Ahmad, Co-Founder and Chief Govt Officer, stated:
“This elevate is an endorsement of our technique, imaginative and prescient and execution, however greater than that, displays the conviction of worldwide revered traders who recognise each the complexity of this market and the dimensions of what we’re constructing. Their participation alerts confidence not simply in our mannequin, however in our position as a frontrunner in reshaping and redefining wholesale capital motion.
“Institutional capital shouldn’t have to attend for banking hours or be held again by handbook workarounds. Our heritage means we’re in a singular place to re-engineer conventional international trade capital flows with real-time stablecoin settlement throughout borders. The following period of finance begins with us, and we’re excited to have extra help to execute our imaginative and prescient to reimagine the motion of cash.”
Zodia Markets at the moment helps over 20 fiat currencies and greater than 70 digital belongings, together with USD and non-USD stablecoins.
The funding shall be used to proceed the agency’s geographic enlargement, develop stablecoin-based cost orchestration capabilities, and introduce extra institutional buying and selling merchandise to facilitate cross-border funds.
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