Zodia Markets 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 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.”

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, 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.”

Zodia Markets’ exchange platform allows clients to connect to a high-throughput, low-latency matching engine through FIX API connectivity, leveraging the same standards as electronic trading for traditional equities, FX or fixed income.

Zodia Markets’ brokerage provides a bespoke institutional-level service through its deep bench of experienced traders, operations staff and through its industry-leading products, including the electronic intelligent request for quote (iRFQ) capability.

Zodia Markets partners with high-quality third-party custodians, including Standard Chartered-backed Zodia Custody, to support its trading activities, providing clearly segregated responsibilities.

The FCA register shows that Zodia Markets UK Limited is registered for certain cryptoasset activities. However, some activities by this firm may not be protected.

Thus, the Financial Ombudsman Service will not be able to consider a complaint about this firm. The Financial Services Compensation Scheme will not be able to consider a claim against this firm if it fails.