Zodia Markets specializes in on- and off-ramping digital assets, particularly stablecoins, against multiple fiat currencies. By combining the banking and FX capabilities of Standard Chartered Bank, a 170-year-old British Bank that operates in over 40 markets, it is able to offer cheap, dependable, and fast execution, settling on a principal-to-principal basis. Through Circle's integration with Standard Chartered Bank, Zodia Markets can mint and burn USDC and EURC same day in large volumes at low cost. Settlement is measured in minutes, not hours.
Zodia Markets has a UK VASP registered with the FCA, an EU VASP registered with the Central Bank of Ireland, and a brokerage based in Jersey that is regulated by the Jersey Financial Services Commission. It is also establishing a regulated presence in Abu Dhabi Global Markets. It does not serve retail clients and is not licensed to offer third-party payments.
Zodia Markets also specializes in non-USD stablecoins and is pioneering the creation of a stablecoin-based FX market. It offers execution services in stablecoins linked to AUD, EUR, JPY, SGD, and TRY, with more coming soon.
Zodia Markets provides execution services to VASPs, PSPs, asset managers, hedge funds, private banks, market makers, and corporates in industries as varied as oil and gas, agribusiness, and consumer goods.
The Sale & Purchase (S&P) of ships and other nautical equipment often requires escrow services. Through its partnerships with custody providers, Zodia Markets on- and off-ramps buyers, sellers, and brokers in the shipping industry who want to take advantage of the low cost, efficiency, and flexibility of stablecoins.
Through its access to multiple currencies and foreign exchange, particularly in emerging markets, Zodia Markets can offer low-cost and rapid on- and off-ramping services to remittance companies. By using its new stablecoin/FX execution API, remittance companies can reduce the balances they need to run in destination countries to give the illusion of an instant payout.
Commodities exporters, importers, and traders must grapple with challenging payment corridors. By on-ramping into stablecoins with Zodia Markets, importers can access tools that allow for the efficient, low cost, and rapid transfer of value across borders. Exporters can liquidate stablecoin-based proceeds into a variety of currencies via Zodia Markets. Finally, commodity traders can on- and off-ramp via Zodia Markets as their situations demand.
Many VASPs struggle to access basic banking, let alone wholesale-grade foreign exchange (FX) pricing. By combining the banking and FX capabilities of its majority shareholder, Standard Chartered Bank, Zodia Markets can offer VASPs cheap, fast, and, most importantly, dependable FX execution services against stablecoins and other digital assets. Zodia Markets can work with its bank and majority shareholder to optimize cash payments to deliver reliable T0 settlement.
By combining the capabilities of its majority shareholder, Standard Chartered Bank, one of the largest USD clearers in the world, Zodia Markets can offer cheap, rapid, and reliable on- and off-ramping in simple pairs such as USD/USDC. This enables multinational exchanges, corporates, PSPs, and others to move funds across borders between their group entities seamlessly on a T0 basis using stablecoins. Zodia Markets thus enables low friction access to money on the open internet.
By combining its USD and non-USD stablecoin capabilities with the FX and banking capabilities of its majority shareholder, Standard Chartered, Zodia Markets can offer stablecoin-based FX. For example, a client with no SGD banking could still use USDC/XSGD as a proxy for USD/SGD. Zodia Markets is able to price these pairs using fiat liquidity, allowing cost-effective access to a newly created market. Zodia Markets currently covers five non-USD stablecoins with more being added each month.
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