Reported about 1 year ago
Standard Chartered's crypto subsidiary Zodia Markets Ltd. is in discussions to purchase a portion of a digital-asset company supported by billionaire hedge fund manager Alan Howard, potentially acquiring Elwood Capital Management Ltd. in Jersey. This move aligns with Standard Chartered's increasing involvement in digital assets, including the establishment of a trading desk for Bitcoin and Ether. The potential acquisition of Elwood Capital would provide Zodia Markets with licenses as a virtual asset service provider and investment business in Jersey, focusing more on OTC settlement services. Howard's 2022-established Elwood Technologies, in which Elwood Capital is a part, previously secured funding from notable investors. Terms of the potential deal were not disclosed, and representatives from Zodia Markets and Elwood Technologies declined to comment on the ongoing discussions.
Source: YAHOO