Zodia Markets, the Standard Chartered-backed digital asset exchange and brokerage platform.announces that it has received its registration as a Virtual Asset Service Provider (VASP) by theCentral Bank of lreland (CBI)
The VASP registration, which has been granted to Zodia Markets (lreland) Limited, will enablethe provision of OTC trading and exchange services to institutional clients. CBl's approval willallow Zodia Markets' to deepen its position as a trusted partner for digital asset trading inEurope, and further highlights the
company's firm commitment to collaborate with Europeanregulators and operate in compliance. The move precedes the implementation of the Marketsin
Cryptoassets Regulation (MiCA) in the EU, which is due to take effect towards the end of2024 and will require the authorisation and supervision of crypto asset service providers.
Michael Walsh, CEO of Zodia Markets lreland and Head of Distribution, said: "VASPregistration is an exciting development for Zodia Markets, and we're delighted to be part of theburgeoning lrish digital assets ecosystem. The registration will act as a launchpad for thebusiness to enter the EU, a market where we see significant opportunity and demand for ouroffering, and it paves the way for future MiCA authorisation when the regulations areimplemented. We believe our VASP registration is further testament to the highest standards ofcompliance, security and risk procedures that run throughout the business, and which make usa trusted partner for our clients.
This license follows from the firm receiving crypto asset registration from the Uk's FinanciaConduct Authority (FCA) in July 2022 and its In-Principle Approval (IPA) by Abu Dhabi GlobaMarkets (ADGM) in September 2023.