Nick Philpott, co-founder of Zodia Markets-A Trading activities of digital activities that has a strong support from traditional financial giants such as the British Bank, a Chartered Bank-Ho a controversial vision of the need for regulatory clarity. Speaking during the Nordic Blockchain Association, June 17, 2025 said that most of the regulations are summarized in order not to lie, do not cheat and not steal.
“To say that you have to wait for the regulator to say” yes, you can do it or this “it means that you will have no innovation”, Philpott insisted.
Speaking of Stablecoin in particular, he said: “Stablecoins are definitively cross -border”. However, expressing concerns about the markets in crypt-seets (not), said: “One of my greatest concerns for the mica is that there are certainly traces of protectionism in there, trying to put the walls, trying to promote the adoption of euros Stablecoin. Opportunities.”
“The way I think of things like USDC or Tether in particular, is that they are EuroLars. We had Eurodollars since the 1950s. The tether has issued by a company in El Salvadorian. It is not issued by the United States. Therefore it is international for design.”
“The EU is almost victim of its success,” says Zodia Markets co-founder
“If you come from an institutional background we do, in reality there are many regulations from which you can simply draw to manage a company quite well. You don’t necessarily have to wait for the regulators to actually write a license framework. We are a company based in the United Kingdom, still not regulated. The regulators have not yet written the regulations.”
Speaking of payments in the EU, he said it really works quite well. “Sepa is good, target 2 is good, instant payments are quite good. The banks are fine.”
But, according to him, the EU is the victim of its success. “To illustrate,” said “Zodia markets, our number one currency in terms of volumes of Stablecoin is the Stablecoins in US dollars. The number two is the Turkish lira. We make more volume in a Turkish lira is not that easy. It is not easy.
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Speaking in favor of interoperability, he said it is probably the most important thing in the short term. “If you manage a cryptocurrency business like us, the biggest problem you have in cash. It would be crazy,” he underlined.
“If you are able to take different cash and activities and put them on the open internet, this offers the opportunity for interoperability. One of the simplest cases of use we are seeing, because we work in the wholesale markets rather than on the payments of the retail cards or on the sale side, it is a cross -border trade. Now, if you are trying to move a container to load something from B, who cannot speak with the cash”, he added.
“And in terms of cross -border trade, it is not so similar to the finance in which you are trying to bring financial infrastructures from the 19th, the 20th century to the 21st century. Commerce, come from the 17th century to the 21st century. The jump is absolutely dramatic.”
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“I Don’t See A Huge Amount of Programmability Yet Because the Invamental Improvements on Using Cash For the Various Different Examples That Have Been Given, Are Aleredy So ProFound That I Think A Lot of Players Are Still Just Grappling with the implications of that. We have two clients that are Remittance Companies and for Them It’s a Balanca Sheet Play.
“On the side of the cross -border shipment, we are working with a very, very large port operator with our affiliate company, the custody of Zodia. They already have a platform that allows the monitoring of the supply chain, so that you can see where your loading container is located. The problem is talking to the banks, knowing where you cannot speak with your truck. Banks.”
Standard Chartered saw the digitization of payments
I suspect that some US banks in particular probably do not feel the same pressure. I have been to the United States recently and saw people who pay for things with paper checks. I thought I was back in the 90s. This kind of thing is still acceptable in the United States. So they don’t feel the same pressure.
Speaking of technology, he said: “2018, I was in the electronic trading team of Chartered Standard. We made a Bitcoin test trade. It was like rolling a demolition ball through the systems. It broke any system that touched the counter systems. Sequence.”
“I am not convinced that CBDCs have a cross -border application”
“I am not convinced that the digital currencies of the Central Bank have a cross -border application because you would need to network all the different currencies,” he said. “They are 180 currencies, so they are as 16 thousand of bilateral combinations.”
“CLS, which is a system used to remove the risk of settlement in foreign currency, has tried to make the network of central bank systems since 2002. So far it has made 18 currencies. So at the current rhythm, they will make the other 172 in about 200 years. It will not happen.”
“Does the world really need 180 currencies? We would notice if we had lost the tigrinya, the Guarani, the Panda, Um the Manato, the Tenge? People are sitting looking on Google. He is inventing these currencies true. I don’t think people noticed if they disappeared.”
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