Bitcoin
$60,801.86-3.65%
Ethereum
$2,908.28-4.08%
Binance Coin
$586.92-1.08%
Solana
$144.89-6.01%
XRP
$0.50299533-2.49%
Toncoin
$6.71-2.42%
Dogecoin
$0.14426870-4.56%
Cardano
$0.44479909-4.01%
Shiba Inu
$0.00002262-3.28%
Avalanche
$33.44-6.50%
Tron
$0.12715446+1.69%
Wrapped Bitcoin
$60,885.89-3.54%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to ConsensusThe largest event covering all sides of crypto & Web3
18
DAYS
02
HR
08
MIN
23
SEC
Policy

Standard Chartered-Backed Zodia Markets Gains Registration in Ireland

Ireland is emerging as an attractive destination for crypto firms; Coinbase designated the country as its EU hub earlier this month.

By Jamie Crawley
AccessTimeIconOct 27, 2023 at 10:03 a.m. UTC
Headshot of Zodia Markets CEO Usman Ahmad
Zodia Markets CEO Usman Ahmad (Zodia Markets)
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Zodia Markets, a digital asset exchange backed by Standard Chartered, has received registration as a Virtual Asset Service Provider (VASP) in the Republic of Ireland from the country's central bank.

The registration will allow Zodia Markets to offer over-the-counter (OTC) trading and exchange services to institutional clients, according to an emailed announcement on Friday.

Having received similar permissions in the U.K. last year and in Abu Dhabi last month, the company now has a licensed entity in the European Union (EU). The forthcoming implementation of the EU's Markets in Cryptoassets Regulation (MiCA) will in theory make it easier for crypto firms licensed in one of the trading bloc's member states to acquire the necessary permissions to operate in the other 26.

Ireland has emerged as a popular destination for crypto firms to set up shop, possibly down to its favorable tax regime. Crypto exchange Coinbase (COIN) designated Ireland as its EU hub earlier this month.

Read More: Zodia Custody Looks to Drive Institutional Access to Polkadot Ecosystem

Edited by Sheldon Reback.



Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.