Zodia Markets

What Zodia Markets does

Zodia Markets is a London-headquartered institutional digital asset brokerage founded in 2021, operating as a majority-owned subsidiary of Standard Chartered PLC (60% stake, down from 84%) alongside co-founding partner OSL Group, Asia's listed digital asset company. The company provides over-the-counter (OTC) digital asset trading, exchange services, and stablecoin-enabled cross-border payment solutions exclusively to professional and institutional clients — including hedge funds, asset managers, commodity traders, oil companies, shipping firms, and digital asset trading firms. Distribution operates through a voice trading desk, an electronic Request For Stream (RFS) portal, and channel partnerships with Talos, BCB Group BLINC Network, Bank Frick xPULSE, Fireblocks Network, N3XT, Elwood, Keyrock, and Currency.com. The platform spans six regulated entities across the UK (FCA), US (FinCEN), Canada (FINTRAC), Jersey (JFSC), Ireland (Central Bank of Ireland), and Abu Dhabi (ADGM FSRA), with offices in London, St Helier, Abu Dhabi, and Dublin.

The technical platform supports trading across 70+ digital assets and 20+ fiat currencies, with key differentiators including T+0 settlement (95% of trades clearing within 30 minutes, including USD during APAC trading hours), multi-chain settlement across Ethereum, Solana, and Tron, a Delivery Versus Payment (DVP) credit facility allowing clients to trade without pre-funding, and a segregated custodial model in which client fiat is held at Standard Chartered and digital assets at trusted custodians. In 2025 the company reported $113.8 billion in on-chain transaction volume and 14x year-over-year growth in stablecoin transactions, with $30–40 billion in annual USD-backed stablecoin flows from commodity/oil/shipping clients and $3.4 billion in Turkish lira-pegged stablecoins processed during the year.

The business model is exclusively B2B and transaction-based, monetizing through spreads and fees on OTC trades with quote-based pricing and no public retail offering. In July 2024, the company expanded capabilities by acquiring Elwood Capital Management Ltd (rebranded as Zodia Markets Jersey), and in July 2025 closed an $18.25 million Series A led by Pharsalus Capital with participation from Circle Ventures. Recent strategic moves include integrations with N3XT (April 2026), Talos (April 2026), BCB BLINC Network (February 2026), Currency.com (January 2026), Elwood/Keyrock (December 2025), Bank Frick xPULSE (December 2025), and Fireblocks (September 2025). Co-founder and CEO Usman Ahmad departed in April 2026, with Nick Philpott appointed as interim CEO.

Name

Zodia Markets

Legal name

Zodia Markets Holdings Limited

Website

https://zodiamarkets.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Zodia Markets is a London-based institutional digital asset brokerage majority-owned by Standard Chartered Bank, providing OTC trading, exchange, and stablecoin settlement services to hedge funds, asset managers, commodity traders, oil companies, and shipping firms across six regulated jurisdictions.

Ownership category

akta.pro rank

Product category

Institutional Digital Asset Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

OTC Spot Trading & Block Execution (FSADAJAB)

akta.pro secondary industries

Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG), Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

Keywords

• Institutional crypto trading
• Digital asset brokerage
• OTC crypto trading
• Stablecoin settlement services
• Cross-border digital asset payments

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. OTC Trading Services: Over-the-counter digital asset trading services including voice and electronic settlement for institutional clients, generating revenue through transaction fees and spreads on digital asset trades

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Zodia Markets provides institutional over-the-counter (OTC) digital asset brokerage services via both voice desk and electronic execution, offering access to 70+ digital assets and 20+ fiat currencies with T+0 settlement (95% of trades settled within 30 minutes). The platform delivers stablecoin-enabled cross-border capital movement, a Delivery-Versus-Payment (DVP) credit facility, multi-chain settlement across Ethereum, Solana, and Tron, and multi-local rail accounts that keep client capital onshore across the UK, Jersey, Abu Dhabi, and Dublin.

Product overview

Zodia Markets is an institutional-grade digital asset marketplace backed by SC Ventures (Standard Chartered) and OSL Group. The platform operates a multi-product architecture centered on its Digital Asset Brokerage (OTC Trading) with voice and electronic execution capabilities, complemented by an Exchange Platform and eTrading portal. The core offering provides access to 70+ digital assets and 20+ fiat currencies with 95% of trades settling within 30 minutes. Additional products include Stablecoin Payment Solutions for cross-border transactions, Multi-Local Rail Accounts for global capital movement, and the Segregated Custodial Funds Model ensuring client assets are held separately. Following the July 2024 acquisition of Elwood Capital Management, the company expanded through Zodia Markets Jersey (ADGM entity) and Zodia Markets (AME) Limited in Abu Dhabi. Strategic integrations with Talos, N3XT, BCB Group, Bank Frick, and Fireblocks extend settlement capabilities to 24/7/365 operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Digital Asset Brokerage (OTC Trading) Institutional over-the-counter (OTC) trading services providing voice and electronic settlement for digital assets. Offers 70+ digital assets, 20+ fiat currencies, with 95% of trades settling within 30 minutes (T+0 settlement). Includes Delivery-Versus-Payment (DVP) credit facilities allowing clients to lock prices without pre-funding. Targeted at hedge funds, trading firms, asset managers, commodity traders, oil companies, and shipping firms.
• Exchange Platform Secure, efficient, and transparent institutional exchange platform for digital asset investment, providing institutional-grade trading infrastructure with access to deep liquidity for professional and institutional clients.
• eTrading Platform Electronic trading platform enabling institutional clients to stream live prices and book trades directly, providing institutional-grade execution, compliance, and the same confidence expected from OTC service. Accessed via trade-uk.zodiamarkets.com.
• Stablecoin Payment Solutions Cross-border stablecoin payment solutions enabling institutional clients to move capital across borders with alternative settlement methods beyond traditional banking hours. Supports stablecoin transactions (including USDC and USDT) for commodity traders, oil companies, shipping firms, and other institutional counterparties.
• Multi-Local Rail Accounts Service offering providing multi-local account infrastructure that keeps client capital onshore and enables fast settlement across 20+ fiat currencies in jurisdictions including the UK, Jersey, Abu Dhabi, and Dublin.

Quantifiable outcome

• 95% of trades settle within 30 minutes including USD settlement during APAC trading hours
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• TaloscoreTechnology or Integration · 29 April 2026Integration with Talos institutional trading technology platform enables clients to access Zodia Markets' liquidity through Talos's single interface for digital asset investment lifecycle including liquidity sourcing, trading, and settlement.
• N3XT (Product Partnership)coreStrategic or Co-development Partner · 21 April 2026Partnership with N3XT to launch N3XT Digital Dollar (NDD), a bank-issued tokenized deposit for real-time USD settlement 24/7/365. Zodia Markets is among initial institutional partners including Blockchain.com, Kraken, Ripple Prime, and others.
• N3XTcoreTechnology or Integration · 8 April 2026Partnership to enable 24/7 real-time USD settlement for Zodia Markets' institutional clients. N3XT provides blockchain-powered narrow bank infrastructure for instant programmable B2B payments, allowing clients to convert stablecoins (USDC, USDT) to fiat USD continuously.
• BCB GroupcoreTechnology or Integration · 11 February 2026Integration onto BCB's BLINC Network (The BCB Liquidity Interchange Network Consortium) provides instant, 24/7/365 settlement for institutional clients. Establishes Zodia Markets as key liquidity provider to BCB's OTC trading desk.
• Currency.comcoreStrategic or Co-development Partner · 22 January 2026Strategic liquidity partnership where Zodia Markets provides deep institutional liquidity and execution services to Currency.com, enabling the platform to scale large-volume transactions exceeding $100M for enterprise and high-net-worth clients.
• XDC NetworkminorStrategic or Co-development Partner · 18 December 2025Hosted private lunch during Abu Dhabi Finance Week with key financial institutions for strategic discussions on blockchain's role in transforming global capital markets, including asset tokenization and regulatory frameworks.
• Elwood & KeyrockminorStrategic or Co-development Partner · 1 December 2025Trilateral partnership creating institutional liquidity hub combining Zodia Markets' brokerage, Elwood's execution management systems, and Keyrock's market-making technology for improved institutional access to deep digital asset liquidity.
• Great Ormond Street Hospital CharityminorOthers · 1 January 2023GOSH Charity uses Zodia Markets platform to convert cryptocurrency donations to pound sterling, enabling international crypto philanthropy with regulatory-compliant infrastructure.

Scale indicators9 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• Kraken Institutional: Kraken's institutional offering provides OTC trading, custody, and staking for digital assets to professional clients — comparable as a broader incumbent institutional crypto trading and liquidity provider, and a co-launch partner with Zodia in N3XT's NDD initiative.
• Coinbase Prime: Coinbase Prime is the institutional arm of Coinbase offering OTC trading, prime brokerage, and custody for digital assets — comparable as a broad incumbent institutional crypto trading platform with overlapping OTC and custody functions.

Direct peers

• Galaxy Digital: Galaxy Digital operates one of the largest institutional crypto OTC and trading desks with deep balance sheet, market making, and prime services — directly comparable to Zodia Markets' institutional OTC brokerage, exchange, and stablecoin settlement offering.
• Cumberland (DRW): Cumberland is the crypto trading arm of DRW, a major institutional liquidity provider for digital assets including block trading and OTC services — directly comparable to Zodia's OTC spot trading and block execution for institutional counterparties.
• Wintermute: Wintermute is a leading crypto-native market maker and OTC liquidity provider serving institutional clients across spot and derivatives — directly comparable in OTC trading, liquidity provision, and institutional execution focus.
• FalconX: FalconX is an institutional digital asset brokerage offering OTC trading, prime services, and custody-adjacent solutions — directly comparable in targeting hedge funds, asset managers, and trading firms with execution and credit services.
• B2C2: B2C2 is a leading institutional crypto OTC liquidity provider (now owned by Nomura) serving banks, hedge funds, and asset managers — directly comparable in OTC block trading, electronic pricing streams, and institutional client base.
• GSR Markets: GSR is a crypto-native liquidity provider and OTC trading firm serving institutional clients across spot, derivatives, and market making — directly comparable in OTC execution and institutional liquidity provision.
• Circle Trade: Circle Trade, the trading arm of USDC issuer Circle, is a major institutional liquidity provider in stablecoins and digital assets — directly comparable to Zodia Markets in OTC stablecoin/fiat liquidity and institutional execution.

Emerging players

• OSL Group: OSL Group is a Hong Kong-based regulated digital asset platform and co-founding partner of Zodia Markets, providing exchange and brokerage services — comparable as an Asia-headquartered institutional crypto trading platform with regulated digital asset services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ZodiaMarkets
• LinkedInlinkedin.com/company/zodia-markets
• Xx.com/zodiamarkets

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zodia Markets