Back

Zodia Markets Secures $18.25 Million Funding to Expand Global Operations

The latest funding round will bolster Zodia's international growth and stablecoin services, reflecting the increasing institutional interest in crypto trading platforms.

Summary

Zodia Markets raised $18.25 million in a Series A funding round led by Pharsalus Capital, with contributions from Circle Ventures and XVC Tech. The funds will support Zodia's expansion into East Asia, Latin America, and the U.S., while enhancing its stablecoin payment services. Standard Chartered's ownership in Zodia has decreased from 84% to 60%.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve of assets, often fiat currencies.
  • Funding Round: A stage in the investment process where a company raises capital from investors to support its operations and growth.
  • Institutional Capital: Investment funds that are managed by financial institutions, such as banks, insurance companies, or pension funds.