Zodia Markets, the digital asset platform backed by Standard Chartered, has successfully raised $18.25 million in a Series A funding round, driven by increasing demand for real-time wholesale trading, settlement, and cross-border transactions using stablecoins.
The funding round was led by Pharsalus Capital, a New York-based venture capital firm, and included participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital, and other strategic investors.
Established in 2021, Zodia Markets has been supported from the beginning by SC Ventures, Standard Chartered Bank’s innovation unit, and OSL Group, a leading digital asset company in Asia.
Co-founder and CEO Usman Ahmad stated, “This raise is an endorsement of our strategy, vision, and execution. It reflects the confidence of globally respected investors who understand both the complexities of this market and the scale of what we are building.”
Ahmad emphasized the need for institutional capital to operate without restrictions of banking hours or cumbersome manual processes. “Our heritage positions us uniquely to reengineer traditional foreign exchange capital flows with real-time stablecoin settlements across borders.”
The firm currently supports over 20 fiat currencies and more than 70 digital assets, including various stablecoins. Ahmad noted that the new funding will be used to support the company’s ongoing geographic expansion and enhance stablecoin-based payment orchestration.