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Zodia Markets, a London-based digital asset platform, has announced the successful completion of a $18.25 million Series A funding round. This round was led by New York venture capital firm Pharsalus Capital, with participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital, and other strategic investors.
The funding will be utilised to accelerate Zodia Markets' global expansion and develop new institutional trading products, with a focus on cross-border stablecoin payment solutions. The company aims to enhance its stablecoin-based payment orchestration capabilities to meet the growing institutional demand for real-time, 24/7 wholesale trading and settlement beyond traditional banking hours.
Founded in 2021 by Usman Ahmad and Nick Philpott, Zodia Markets combines traditional finance infrastructure with digital asset technology to facilitate institutional capital flows via stablecoins. The platform currently supports over 20 fiat currencies and more than 70 digital assets, including various USD and non-USD stablecoins. Since its inception, it has been backed by Standard Chartered’s innovation arm SC Ventures and Asia’s leading digital asset company OSL Group.
In a statement, Usman Ahmad, Co-Founder and Chief Executive Officer of Zodia Markets, emphasised the company's vision to reengineer traditional foreign exchange capital flows by enabling real-time settlement using stablecoins across borders, eliminating delays due to banking hours or manual processing. The funding round has received endorsement of the strategy, vision, and execution of Zodia Markets.
The investors recognise the complexity of the market and the scale of what Zodia Markets is building. They are excited to support the company as it executes its vision to reimagine the movement of money. The funding will be used to develop stablecoin-based payment orchestration capabilities and introduce additional institutional trading products to facilitate cross-border payments.
The next era of finance, according to Zodia Markets, starts with them. The funding round was led by Pharsalus Capital, a New York-based venture capital firm, and the investors' participation signals confidence in Zodia Markets' model and its role as a leader in reshaping and redefining wholesale capital movement. Zodia Markets is thrilled to have more support to execute its vision and looks forward to continuing its geographic expansion.
[1] Zodia Markets Pressemitteilung, Zodia Markets Secures $18.25 Million Series A Funding Round, 2022. [2] Fintech Futures, Zodia Markets raises $18.25m Series A funding led by Pharsalus Capital, 2022. [3] The Block, Zodia Markets raises $18.25 million in Series A funding, 2022. [4] CoinDesk, Zodia Markets Raises $18.25 Million in Series A Funding Led by Pharsalus Capital, 2022. [5] Business Insider, Zodia Markets raises $18.25 million in Series A funding, 2022.
- The funding received by Zodia Markets, led by Pharsalus Capital, will be directed towards accelerating the growth of the business, developing new institutional trading products, and enhancing their stablecoin-based payment orchestration abilities to cater to the increasing institutional demand for 24/7 trading and settlement.
- The London-based digital asset platform, Zodia Markets, is poised to revolutionize the traditional foreign exchange capital flows by enabling real-time, cross-border settlement using stablecoins, a notion supported by the investors who have endorsed the strategy, vision, and execution of the company.
- Zodia Markets, a venture that combines traditional finance infrastructure with digital asset technology, aims to reshape and redefine wholesale capital movement in the fintech industry, as demonstrated by their successful Series A funding round led by Pharsalus Capital.
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