The central bank of Ireland has registered Zodia Markets, a digital asset exchange supported by Standard Chartered, as a Virtual Asset Service Provider (VASP).
An email announcement from Zodia Markets on Friday stated that the registration will enable the company to provide institutional clients with over-the-counter (OTC) trading and exchange services.
After obtaining comparable authorizations in the United Kingdom the previous year and in Abu Dhabi the month prior, the business currently possesses a licence in the European Union (EU).
The Markets in Cryptoassets Regulation (MiCA), which is set to be implemented soon in the EU, should theoretically make it simpler for cryptocurrency companies licenced in one of the trading bloc’s member states to obtain the licences required to operate in the other 26.
Due in part to its advantageous tax environment, Ireland has become a sought-after location for cryptocurrency companies to establish their operations. Ireland was named the EU hub for cryptocurrency exchange Coinbase (COIN) earlier this month.