Zodia Markets Funding Unlocks Global Crypto Ambitions: A $18.25 Million Success Story
Main Idea
Zodia Markets Ltd., the crypto arm of Standard Chartered, secured $18.25 million in funding to expand its institutional crypto services, with strategic investments from Pharsalus Capital, Circle Ventures, and XVC Tech.
Key Points
1. Zodia Markets Ltd. raised $18.25 million in a funding round led by Pharsalus Capital, with participation from Circle Ventures and XVC Tech.
2. The funding will be used for geographic expansion and bolstering its stablecoin business.
3. Standard Chartered's stake in Zodia Markets was reduced from 84% to 60%, allowing for greater agility and growth.
4. Zodia Markets aims to bridge traditional finance (TradFi) and crypto, leveraging its institutional backing to navigate regulatory and market challenges.
5. The investment reflects growing institutional interest in digital assets and the strategic importance of stablecoins in the crypto ecosystem.
Description
BitcoinWorld Zodia Markets Funding Unlocks Global Crypto Ambitions: A $18.25 Million Success Story The world of finance is undergoing a profound transformation, with traditional institutions increasingly embracing the innovative power of digital assets. In a significant move that underscores this evolving landscape, Zodia Markets Ltd. , the prominent crypto arm of banking giant Standard Chartered, has announced a successful funding round, securing a substantial $18.25 million . This pivotal Zodi...
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