Investment firm Zodia Markets, an affiliate of Standard Chartered, successfully raises $18.25 million during their Series A round, with Pharsalus Capital taking the lead in the funding.
Zodia Markets Raises $18.25 Million in Series A Round to Revolutionize Foreign Exchange with Stablecoin Settlement
In the wake of the recent signing of the GENIUS Act, which establishes a comprehensive federal regulatory framework for payment stablecoins in the United States, Zodia Markets, a digital asset trading and brokerage services company, has secured $18.25 million in a Series A funding round. The round was led by Pharsalus Capital, with participation from Circle Ventures, The Operating Group, XVC Tech, Token Bay Capital, and Human Capital.
The GENIUS Act, signed into law on July 18, 2025, aims to provide regulatory clarity and legal certainty for stablecoin issuers and users by creating a unified national framework. Zodia Markets' CEO, Usman Ahmad, stated that the company aims to reengineer traditional foreign exchange capital flows with real-time stablecoin settlement across borders.
Zodia Markets offers non-USD stablecoin pairs, including those pegged to EUR, GBP, JPY, SGD, TRY, and more in foreign exchange (FX) markets. The company has already enabled minting and burning of USDC and EURC, in partnership with Circle. With this funding, Standard Chartered's stake in Zodia markets falls to 60%.
The fresh capital will be used for global expansion to advance Zodia Markets' stablecoin payments service. The company plans to launch new stablecoin solutions for institutional capital, potentially encouraging compliance and consumer protection, and increasing trust and adoption of stablecoin payment solutions.
The GENIUS Act's phased implementation timeline ends in late 2026, allowing time for rulemaking and transition. Regulatory agencies, including bank regulators and the Treasury Secretary, are tasked with issuing implementing rules and reports before the Act’s enforcement begins. Federal regulators are empowered to enforce the law through cease-and-desist orders and civil penalties, emphasizing robust oversight.
The GENIUS Act's passage has prompted a wave of stablecoin issuers and companies to revamp or enter the stablecoins payments business, signalling regulatory focus on integrating digital assets into traditional financial oversight, which could accelerate the mainstream usage of stablecoins in payments.
In the realm of finance and technology, Zodia Markets plans to utilize the $18.25 million Series A funds to advance their stablecoin payments service, aiming to launch new solutions for institutional capital and expand globally. This move follows the signing of the GENIUS Act, which regulates payment stablecoins and could accelerate mainstream usage, potentially revolutionizing foreign exchange through real-time stablecoin settlement (minting and burning of USDC and EURC) in various non-USD pair markets.
