Zodia Markets Secures VASP Registration in Ireland

Zodia Markets, a digital asset exchange that has strong support from Standard Chartered, has accomplished a noteworthy milestone by becoming registered in the Republic of Ireland as a Virtual Asset Service Provider (VASP). With this calculated action, they are taking a further step toward expanding their offerings and becoming a more prominent player in the digital asset market.

Strengthening European Footprint

Zodia Markets is now a licensed business inside the European Union (EU), having already obtained comparable authorizations in the United Kingdom last year and Abu Dhabi only last month. This most recent achievement is in perfect harmony with the upcoming implementation of the EU’s Markets in Cryptoassets Regulation (MiCA), which is expected to simplify the procedure for cryptocurrency companies licensed in one EU member state to operate in another, thereby opening up a wider market.

Ireland is becoming a more and more popular location for cryptocurrency businesses wishing to expand. This inclination is somewhat explained by the favorable tax system of the nation. Coinbase, a well-known cryptocurrency exchange, designated Ireland as its EU center only last month, which is a recent illustration of this trend.

Securing VASP registration in Ireland is a calculated step to capitalize on the expanding European digital asset market as Zodia Markets keeps developing. This move not only broadens the company’s appeal and increases its reputation, but it also puts them in a strong position for future EU regulations, making it easier for them to conduct business with EU members. Ireland’s reputation as a hospitable location for companies involved in cryptocurrency is further cemented by its tax-friendly environment.