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<div class="cryptonews"><p class="is-style-lead">With Ireland’s approval, Zodia can now offer over-the-counter trading and exchange services to institutional clients in the European Union.</p><p>Zodia Markets, a <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/crypto.html">crypto</a> brokerage and exchange <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/backed.html">backed</a> by Standard Chartered and OSL, has been approved by the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP). It clears the path for the firm for EU expansion.</p><p>In an interview with Financial Times, Zodia chief executive Michael Walsh said the registration would help the firm achieve its goals by acting as a “launchpad” to enter the European market.</p><p>The news comes just a few months after Zodia secured an in-principle approval from the Abu Dhabi Global Market to offer regional <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/services.html">services</a>.</p><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> You might also like: </span> Standard Chartered-backed Zodia goes green, joins UK’s Tech Zero </div><p>The Zodia CEO added in a blog post the firm sees “significant opportunity and demand” for its products as the European Union’s Markets in Crypto Assets regulation approaches.</p><p>Established in late 2020 by Nick Philpott and Usman Ahmad, London-headquartered Zodia raised $36 million in a funding round led by Japan’s SBI Holdings in April 2023. It aimed to expand its geographical presence and add support for more <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p><p>Although the firm was initially <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/backed.html">backed</a> solely by Standard Chartered and Northern Trust, the latest funding made the 24-year-old Japanese financial <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/services.html">services</a> giant Zodia’s second-largest shareholder.</p><p>Earlier in October 2023, Nana Murugesan, Vice President of International and Business Development at Coinbase, said the exchange decided to continue working in the EU through its base in Ireland, established in 2018.</p><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> Read more: </span> Gemini chooses Ireland as its hub amid US crypto turbulence </div><span class="google-news-banner__label">Follow Us on Google News</span></div><p>Source: <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/standard-chartered-backed-zodia-gains-irelands-s-nod-for-eu-crypto-services-tbt68093.html">https://thebittimes.com/standard-chartered-backed-zodia-gains-irelands-s-nod-for-eu-crypto-services-tbt68093.html</a></p>

Standard Chartered-backed Zodia gains Irelands’s Nod for EU crypto services

TheBitTimes

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