Zodia Markets
3 known investors
Zodia Markets provides institutional digital asset trading services, including an OTC brokerage with voice and electronic settlement and a digital asset exchange platform. It serves institutional clients and offers multi-local settlement accounts for cross-border capital movement.
Also known as Zodia Markets Holdings Ltd · Zodia Markets Ltd.
Investors · 3
Also in the syndicate · 1
Funding
SEC filings, press & company announcements$18 disclosed across 1 of 2 rounds · 2025
- Undisclosed amountseries AAug 2025 · 2 sources
Pharsalus Capital (lead), Circle Ventures, Human Capital, Polymorphic Capital, The Operating Group, Token Bay Capital, XVC Tech
Source ↗ - $18raisedJul 2025 · 3 sourcesSource ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Zodia Markets is an institutional digital asset trading business incorporated in 2021 and headquartered in the UK. It is a majority-owned subsidiary of Zodia Holdings Limited, itself a wholly owned subsidiary of Standard Chartered PLC, and has been backed from inception by SC Ventures, Standard Chartered's innovation and ventures unit, and OSL Group. The firm is independent from Zodia Custody, though both share Standard Chartered as majority shareholder.
The company offers over-the-counter brokerage through a voice trading desk and a Request For Stream portal, alongside an exchange platform, and positions itself around stablecoin-enabled wholesale trading, settlement and cross-border capital movement. It supports more than 20 fiat currencies and over 70 digital assets, including USD and non-USD stablecoins such as USDC, USDT, USDP, TRYB and EURC. Multi-local rail accounts are used to keep client capital onshore and speed settlement. Zodia Markets does not provide custody itself, instead integrating with selected third-party custodians so assets remain with the custodian until trade settlement, and it holds client fiat and digital assets segregated at third parties.
Leadership includes co-founders Usman Ahmad (Chief Executive Officer) and Nick Philpott, who is listed on the company's about page as Interim Chief Executive Officer; other executives include Bharvi Hadani (COO), Mark Richardson (CEO Ireland and Chief Commercial Officer), Buford Scott (CFO), Dina White (General Counsel), Mark Matthews (Chief Risk Officer), Saira Hassan (CISO), Giovanni Miano (CTO), Fei Yang (Head of Operations) and Ayad Butt (Senior Executive Officer, AME).
Founding story
Zodia Markets was incorporated in 2021 and founded by Usman Ahmad and Nick Philpott, backed from inception by SC Ventures, the innovation and ventures unit of Standard Chartered Bank, and by OSL Group.
Business model
Zodia Markets operates a business-to-institution trading and settlement business, providing OTC brokerage (voice and electronic/Request For Stream), an exchange platform, and stablecoin-based payment and settlement rails. It does not offer banking or custody services and does not serve retail clients.
Not stated in the available material beyond the provision of institutional trading, execution and settlement services.
Traction
Supports over 20 fiat currencies and more than 70 digital assets including USD and non-USD stablecoins; raised a $18.25 million Series A in July 2025; agreed to acquire Elwood Technologies' trading desk; and has gone live with integrations and partnerships including Talos, BCB Group's BLINC Network, N3XT and Currency.com.
Latest developments
In July 2025 the company announced a $18.25 million Series A led by Pharsalus Capital, with the investor list updated on 1 September 2025 to add Polymorphic Capital; proceeds are directed at international expansion, stablecoin payment orchestration and additional institutional trading products. The company subsequently announced a partnership with N3XT for 24/7 instant USD settlement, the go-live of its integration with BCB Group's BLINC instant payments network, a liquidity and execution partnership with Currency.com, and a go-live on the Talos institutional trading platform. It also published an H1 2025 digital asset report and a 2025 annual report.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Zodia Markets presents itself as an institution-first digital asset marketplace differentiated by bank ownership and governance, and describes itself as a leading innovator in stablecoin-enabled flows across a multi-currency, multi-jurisdiction footprint.
Bank-grade controls as a Standard Chartered subsidiary subject to bank governance standards, segregation of client fiat and digital assets at third parties, deliberate separation of execution from custody to avoid conflicts of interest, FCA cryptoasset registration plus Jersey registration and ADGM Financial Services Permission, and a combination of traditional wholesale finance experience with crypto-native operations through OSL.
Technology
The platform combines an OTC execution stack (voice desk and Request For Stream portal) with an exchange and stablecoin settlement capability, plus multi-local rail accounts for onshore fiat holding. It integrates with third-party custodians to allow trading without assets leaving custody until settlement, and with external trading and payments networks such as Talos and BCB's BLINC. Information security policies and standards are based on ISO27001/2, with a cyber security framework drawn from Standard Chartered's risk framework alongside SC Ventures and OSL practices.
Go-to-market
The firm reaches institutional counterparties directly through its OTC desk and exchange, and expands distribution via integrations and partnerships with institutional trading and payments infrastructure providers, including Talos, BCB Group's BLINC instant payments network, N3XT and Currency.com. Its association with Standard Chartered and OSL is used as a trust and governance signal, and it publishes periodic digital asset research reports.
Institutional clients only; the company states it never solicits retail consumers or individual members of the public. Clients referenced include digital finance platforms such as Currency.com, and counterparties across exchanges, funds, liquidity and FX providers and stablecoin issuers.
Geography
Headquartered in the UK and registered with the Financial Conduct Authority; operations in the UK, Abu Dhabi and Jersey, with services offered to clients globally and an Ireland entity referenced in press coverage. Series A proceeds are earmarked for continued geographic expansion.
History
Incorporated in 2021 as a majority-owned subsidiary within the Standard Chartered group with OSL Group backing, Zodia Markets built out an institutional OTC brokerage and exchange. It agreed to acquire Elwood Technologies' trading desk to strengthen its OTC business, obtained FCA cryptoasset registration in the UK plus Jersey registration and ADGM Financial Services Permission, and in July 2025 raised a $18.25 million Series A led by Pharsalus Capital that reduced Standard Chartered's stake. Subsequent milestones include going live on the Talos platform and integration with BCB Group's BLINC Network.
Risks & controversies
The company publishes warnings about impersonators and clone firms mimicking its brand and directs suspicious communications to its compliance team, noting that it never solicits retail clients. Its site also carries standard disclosures that trading in digital assets carries a high level of risk and that values can fluctuate significantly.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsZodia Markets announced it has gone live on the Talos institutional trading technology platform to expand client access to institutional liquidity, speed, reliability and credit solutions.
Zodia Markets announced a $18.25 million Series A round led by New York-headquartered Pharsalus Capital, with participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital, Polymorphic Capital and other strategic investors. Proceeds are intended for international growth, stablecoin payment solutions, multi-asset trading products and regulated digital asset infrastructure. Bloomberg reported the round reduces Standard Chartered's stake in the platform.
$18.3M source ↗
Zodia Markets published its H1 2025 digital asset report covering key metrics, client milestones and market shifts including stablecoin settlement and infrastructure.
BCB Group and Zodia Markets announced the go-live of Zodia Markets' integration onto BCB's BLINC instant payments network, providing 24/7/365 instant settlement and institutional liquidity across BCB's client ecosystem of exchanges, liquidity and FX providers, stablecoin issuers, traders and funds.
N3XT, a blockchain-powered narrow bank for instant programmable B2B payments, and Zodia Markets announced a partnership to deliver real-time U.S. dollar settlement across Zodia Markets' institutional client base.
Zodia Markets announced a strategic partnership with digital finance provider Currency.com under which it provides deep liquidity and execution services to support large-volume, high-notional transactions.
Press coverage listed on the company's news page reported that Standard Chartered-backed Zodia Markets agreed to buy Elwood's trading desk, strengthening Zodia Markets' over-the-counter business while allowing Elwood to concentrate on its software-as-a-service activities.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Zodia Marketszodia-markets.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Zodia Markets do?
- Standard Chartered-backed institutional digital asset brokerage and exchange specialising in stablecoin-based trading and cross-border settlement.
- Who are Zodia Markets's investors?
- Zodia Markets's investors include SC Ventures, Pharsalus Capital.
- How much funding has Zodia Markets raised?
- Zodia Markets has disclosed $18 raised across 1 of its 2 known rounds.