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Standard Chartered-backed Zodia Markets has secured cryptocurrency registration from the Financial Conduct Authority (FCA) of the United Kingdom and has officially launched its institutional crypto exchange and brokerage business in the United Kingdom and European Union. Zodia Markets Gets FCA Crypto Registration According to today's official press release, Zodia Markets' crypto registration marks the first time that the Financial Conduct Authority (FCA) has included a cryptocurrency trading company supported by a major multinational bank on the UK's Financial Services Register. The fintech and ventures branch of Standard Chartered bank, SC Ventures, established Zodia Markets in June 2021 in partnership with BC Technology Group, Asia's leading digital asset company and parent of Hong Kong Securities and Futures Commission (SFC)-licensed digital-asset platform, OSL. Head of SC Ventures, Alex Manson said in a statement:
"Combining OSL's deep expertise in operating regulatory compliant digital asset businesses and cutting-edge technology, with the bank's governance, regulatory oversight, and frontier markets experience, Zodia Markets is in prime position to provide secure, reliable and compliant access to digital assets for its institutional client base."
Zodia Markets allows users to connect to a high-throughput, low-latency matching engine through FIX API connectivity, leveraging the same standards as electronic trading for traditional equities, FX, or fixed income. Its brokerage service provides institutional-level service through its deep bench of experienced traders and operations staff and its industry-leading products. On securing the FCA registration, Zodia Markets CEO, Usman Ahmad said:
"With our hugely experienced team of professionals from both digital asset and traditional finance backgrounds, and by providing the highest standards of security, risk and compliance integrated from inception, we meet the demands of institutions seeking a credible and reliable trading partner for cryptoassets. The FCA registration is a testament to our commitment to the highest standards of compliance."