Standard Chartered Plc’s, crypto unit, Zodia Markets, is in talks to acquire billionaire hedge fund manager Alan Howard-backed Elwood Capital Management’s OTC business, Bloomberg News reported on Tuesday.
The acquisition of Elwood Capital would enable Zodia Markets to expand its focus on OTC settlement services in the British Channel Island of Jersey by obtaining essential licenses, the report said, citing people with knowledge of the matter.
Spokespeople for Zodia Markets and Elwood declined to comment when contacted by Reuters.
Source: Reuters.com