Zodia Markets is a Commonplace Chartered-backed digital asset alternate and brokerage platform.
The corporate has introduced its registration as a Digital Asset Service Supplier (VASP) by Eire’s central financial institution.
Zodia is trying to place itself for European growth amid the upcoming MiCA legal guidelines.
Zodia Markets, a digital asset alternate backed by Commonplace Chartered, is now registered as a Digital Asset Service Supplier (VASP) in Eire.
An announcement by the corporate on Friday said that the VASP approval was granted to Zodia Markets (Eire) Restricted by the Central Financial institution of Eire (CBI). This follows related registrations by the Abu Dhabi World Markets (ADGM) and the UK’s Monetary Conduct Authority (FCA) – in September 2023 and in July 2022 respectively.
Eire is a burgeoning crypto market
Zodia Markets’ registration in Eire means the corporate now has regulatory approval within the EU, with this permitting it to develop its providers in Europe, together with crypto alternate and OTC buying and selling.
The milestone additionally aligns the platform with the upcoming implementation of EU’s complete crypto legal guidelines, the Markets in CryptoAssets Regulation (MiCA) that’s anticipated to enter impact within the second half of 2024.
“VASP registration is an thrilling improvement for Zodia Markets, and we’re delighted to be a part of the burgeoning Irish digital belongings ecosystem. The registration will act as a launchpad for the enterprise to enter the EU, a market the place we see vital alternative and demand for our providing, and it paves the best way for future MiCA authorisation when the rules are applied,” Michael Walsh, CEO of Zodia Markets Eire, stated.
Eire continues to draw crypto firms amid the trade’s recognition of a supportive regulatory setting.
Coinbase, which has regulatory approval as an e-money establishment and VASP within the nation, just lately introduced that it had chosen Eire as its European hub. The US-based crypto big first hinted at this transfer in 2020.
One other main crypto firm registered within the nation is Kraken, which has CIB approval as an e-money supplier.
