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 (stock code: 863 HK), 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.”
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.
Zodia Markets is an institutional grade trading venue and brokerage that enables expert navigation of digital asset markets. It is a partnership between SC Ventures, the innovation and ventures unit of Standard Chartered, and BC Technology Group (stock code: 863 HK), Asia’s leading digital asset company and parent of Hong Kong Securities and Futures Commission (SFC)-licensed digital-asset platform OSL.
Zodia Markets offers execution appropriate for institutional clients including broker-aided facilitation to execute large orders and a high throughput, low-latency trading venue. The company enables access to the major digital asset and fiat pairs while ensuring compliance and security.
Standard Chartered is a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
BC Technology Group and OSL
BC Technology Group (stock code: HK 863) is Asia’s leading public fintech and digital asset company. It is the parent company of OSL, the region’s most comprehensive licensed digital asset platform.
OSL is the world’s first and only insured and SFC-licensed digital asset platform, providing brokerage, custody, exchange and SaaS services for institutional clients and professional investors. The company offers OTC, iRFQ and electronic trading services giving traders access to the world’s deepest liquidity pools, as well as secure and insured wallets to ensure the safekeeping of digital assets with timely transaction settlement.
BC Group and the OSL platform are enabling institutional adoption of the digital asset class, setting standards for performance, security and compliance.