Financial Conduct Authority (FCA) registers Standard Chartered-backed Zodia Markets for European institutional crypto trading and brokerage.
Zodia Markets made the announcement today that it has received cryptocurrency registration from the United Kingdom Financial Conduct Authority (FCA) and has formally opened its institutional crypto exchange and brokerage business.
The company is a cryptocurrency exchange and brokerage for institutional clients based in the United Kingdom and backed by Standard Chartered.
This registration is the first time that the Financial Conduct Authority (FCA) has included a cryptocurrency trading company that is supported by a major multinational bank on the UK’s Financial Services Register.
By using the same standards as electronic trading for conventional stocks, foreign currency, or fixed income, the exchange platform offered by the company enables customers to connect to a high-throughput, low-latency matching engine via the use of FIX API access.
Through its vast pool of experienced traders, operational employees, and industry-leading solutions, such as the electronic intelligent request for quotation (iRFQ) capabilities, the brokerage is able to deliver a tailored service at an institutional level.
Zodia Markets CEO, Usman Ahmad remarked:
“Whilst the digital asset markets have recently seen volatility and downward pressure, adoption continues unabated, with institutions entering the market at a 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.“
Zodia Markets’ trading operations are supported by high-quality third-party custodians, such as Zodia Custody, which is guaranteed by Standard Chartered. This clearly separates Zodia Markets’ duties from those of the custodians.
The company provides broker-aided facilitation to execute big orders and a high-throughput, low-latency trading venue for institutional customers. To facilitate access to the most important digital asset and fiat currency pairings, the firm also ensures regulatory compliance and data security.