Zodia Markets announced today that it has secured cryptocurrency registration from the UK Financial Conduct Authority (FCA) and has fully established its institutional cryptocurrency exchange and brokerage business in the country.
Zodia Markets, backed by Standard Chartered, is a cryptocurrency exchange and brokerage for institutional clients located in the United Kingdom.
This is the first time the Financial Conduct Authority (FCA) has listed a cryptocurrency trading firm backed by a large international bank on the UK's Financial Services Register.
The company's exchange platform, which uses the same standards as electronic trading for traditional equities, foreign currency, or fixed income, allows users to connect to a high-throughput, low-latency matching engine via FIX API access.
The brokerage is able to provide a personalised service at an institutional level due to its large pool of skilled traders, operational workers, and industry-leading technology, such as electronic intelligent request for quotation (iRFQ) capabilities.
Usman Ahmad, CEO of Zodia Markets, stated that “while the digital asset markets have lately faced volatility and downward pressure, adoption continues unabated, with institutions entering the sector at a rapid rate. Our objective at Zodia Markets is to be the most trusted trading partner for institutional participants as they navigate this rapidly expanding asset class.”
Zodia Markets' trading activities are supported by high-quality third-party custodians, such as Zodia Custody, which is insured by Standard Chartered. This clearly distinguishes Zodia Markets' obligations from those of the custodians.
For institutional customers, the firm offers broker-assisted execution of large orders as well as a high-throughput, low-latency trading venue. In addition to allowing access to the most major digital asset and fiat currency pairs, the business assures regulatory compliance and data security.
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