Zodia Markets obtain VASP registration in Ireland

Zodia Markets is a chartered digital asset exchange and brokerage platform. The company has announced that it has been registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. Zodia is looking to position itself for European expansion amid the upcoming MCA rules.

Zodia Markets, the Standard Chartered backed digital asset exchange, is now registered as a Virtual Asset Service Provider (VASP) in Ireland.

A company statement on Friday revealed that VASP approval has been granted to Zodia Markets (Ireland) by the Central Bank of Ireland (CBI). This follows similar registrations by Abu Dhabi Global Markets (ADGM) and the UK's Financial Conduct Authority (FCA) in September 2023 and July 2022 respectively.

Ireland is a growing crypto market.

Zodia Markets' registration in Ireland means the company now has regulatory approval in the European Union, allowing it to expand its services in Europe, including crypto exchanges and OTC trading.

In the year It sets the stage for the implementation of EU-wide crypto rules for the Markets in CryptoAssets (MiCA), which is expected to take effect in the second half of 2024.

“The registration of VASP is an exciting development for Zodia Markets, and we are delighted to be part of the growing Irish digital assets ecosystem. Michael Walsh, CEO of Zodia, said the registration would act as a springboard for the business to enter the EU. Markets Ireland, said.

Ireland continues to attract crypto companies amid industry recognition of its supportive regulatory environment.

Coinbase, which has a regulatory license in the country as an e-money institution and VASP, has recently announced that it has chosen Ireland as its European hub. The US-based crypto giant hinted at this move for the first time in 2020.

Another major crypto company registered in the country is Kraken, which has a CIB license as an e-money provider.