Zodia Markets, a UK-based institutional-grade crypto brokerage and change platform, has formally been registered as a cryptoasset agency by the Financial Conduct Authority (FCA), the corporate stated in a press launch.
With its enterprise within the UK’s Financial Services Register, Zodia Markets additionally formally debuted its institutional-focused crypto enterprise within the UK. The firm can also be launching within the European Union, the crypto platform revealed in particulars shared on Thursday present.
Are you in search of fast-news, hot-tips and market evaluation?
Sign-up for the Invezz e-newsletter, at this time.
A landmark achievement
Zodia Markets launched in June 2021, and is backed by world monetary companies supplier Standard Chartered (STAN)- which has additionally ventured firmly into the blockchain house with a number of tasks, together with Olea. Zodia Markets was unveiled by way of the financial institution’s enterprise arm SC Ventures and in partnership with Asia’s high digital property supplier BC Technology Group.
The buying and selling venue’s FCA registration is thus a landmark achievement for regulated crypto brokerages, with this the primary of FCA-approved challenge to depend a worldwide monetary establishment as its principal backer.
Usman Ahmad, the CEO of Zodia Markets, stated in a remark:
“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.”
The Zodia Markets change and brokerage options provide prospects entry to “high-throughput, low-latency matching engine” by way of utility programming interface (API) that faucet into the identical buying and selling requirements relevant in shares, foreign exchange and different conventional markets..
Customers additionally take pleasure in bespoke corporate-level companies, together with clever quote requests and high-quality custody options.
68% of retail CFD accounts lose cash