Zodia Markets Raises for Expansion Plans

Digital asset platform Zodia Markets has raised $18.25 million in a Series A funding round, led by Pharsalus Capital, a New York head-quartered venture capital firm, with participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital and other strategic investors.

The firm has been backed from inception by SC Ventures, the innovation unit of Standard Chartered Bank, and digital asset firm OSL Group and says the funding comes at a time when demand for “real-time wholesale trading, settlement and cross-border movement via stablecoins skyrockets”.

The funding will support the firm’s geographic expansion and support the capability of stablecoin-based payment orchestration, it reveals, adding that more institutional trading products will be developed to support cross-border stablecoin payment solutions.

“This raise is an endorsement of our strategy, vision and execution, but more than that, reflects the conviction of globally respected investors who recognise both the complexity of this market and the scale of what we’re building,” says Usman Ahmad, co-founder and CEO of Zodia Markets. “Their participation signals confidence not just in our model, but in our role as a leader in reshaping and redefining wholesale capital movement.

The firm is seeking to “reengineer traditional foreign exchange capital flows with real time stablecoin settlement across borders” and says it supports over 20 fiat currencies and more than 70 digital assets, including USD and non-USD stablecoins.