Standard Chartered Bank's crypto trading platform Zodia Markets completes $18.25 million in financing
Powered by ChatGPTPANews reported on July 28 that, according to Bloomberg, Standard Chartered Bank's crypto trading platform Zodia Markets has completed a $18.25 million financing led by New York venture capital firm Pharsalus Capital, with participation from Circle Ventures, Token Bay Capital, XVC Tech and others. After this round of financing, Standard Chartered Bank's shareholding ratio dropped from 84% to 60%.
Zodia Markets was established in 2021 and provides cryptocurrency over-the-counter brokerage services. The new funds will be used to expand the East Asian, Latin American and US markets, and expand the stablecoin business. The company currently has a team of about 50 people, emphasizing a profit-first strategy to avoid expansion at all costs. [PANews]