Just over a year ago, we reported that Standard Chartered‘s SC Ventures had entered into a partnership with Hong Kong-listed BC Technology Group to launch a digital asset brokerage and exchange. Today sees the launch of the Zodia Markets joint venture in the UK and EU, after receiving authorization from the UK regulator, the FCA. BC is the parent of the Hong Kong OSL crypto platfrom. We reveal a little about the ownership structure below.
The Zodia brand is also used by Zodia Custody, a separate Standard Chartered joint venture with Northern Trust that launched a year ago.
“Whilst the digital asset markets have recently seen volatility and downward pressure, adoption continues unabated, with institutions entering the market at rapid pace,” said Zodia Markets CEO, Usman Ahmad. “At Zodia Markets, our mission is to be the most trusted trading partner for institutional participants as they navigate this rapidly evolving asset class.”
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