Zodia Markets, the crypto trading platform originally launched by Standard Chartered, has raised $18.25 million in fresh capital, signaling a significant shift in its ownership structure and strategic direction.
Led by New York-based Pharsalus Capital, the funding round also attracted investments from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, and Human Capital. As part of the deal, Standard Chartered’s stake in Zodia Markets will decrease from 84% to 60%, allowing the digital asset firm greater operational flexibility.
Usman Ahmad, CEO of Zodia Markets, explained that while majority backing from a global bank lends credibility and scale, it also imposes regulatory hurdles—particularly under Basel III rules, which increase the capital requirements for banks holding digital assets. By reducing its stake, Standard Chartered enables Zodia to sidestep some of these constraints and pursue more agile growth.
The new funding will help fuel Zodia’s expansion across East Asia, Latin America, and the United States. The firm also plans to strengthen its stablecoin offerings, tapping into a rising wave of institutional and retail interest in digital currencies pegged to fiat.
Launched in 2021, Zodia Markets operates as an over-the-counter (OTC) crypto brokerage. It forms part of a broader digital asset ecosystem supported by SC Ventures and OSL Group. Its sister entity, Zodia Custody, began operations in 2020 to provide secure digital asset custody solutions.
The capital injection arrives at a time of renewed optimism in the crypto market, buoyed in part by recent political shifts in the U.S. and a more favorable regulatory outlook.
“We’re not chasing scale at any cost,” Ahmad emphasized. “Our focus remains on sustainable growth and long-term profitability.”
