Zodia Markets, an institutional digital asset trading platform, has raised $18.25 million in a Series A funding round led by New York-based venture capital firm Pharsalus Capital. The round included participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, Human Capital, and other strategic investors.
Founded in 2021 by Usman Ahmad and Nick Philpott with backing from Standard Chartered's SC Ventures and Asia's OSL Group, the London-based company supports over 20 fiat currencies and 70+ digital assets, focusing on stablecoin-powered cross-border settlements. The new capital will fuel geographic expansion and enhance real-time payment solutions for financial institutions seeking alternatives to traditional banking-hour limitations.
CEO Usman Ahmad emphasized: "Institutional capital shouldn’t have to wait for banking hours or be held back by manual workarounds. We're positioned to reengineer foreign exchange flows with real-time stablecoin settlement across borders." The platform combines wholesale finance infrastructure with digital asset technology to enable 24/7 trading and settlement.