Standard Chartered's Zodia Markets In Talks To Acquire Alan Howard-backed Crypto Firm.

Standard Chartered's Zodia Markets In Talks To Acquire Alan Howard-backed Crypto Firm.

Published Wednesday 10th July 2024

Standard Chartered's Zodia Markets is currently in discussions to acquire a cryptocurrency firm that is backed by billionaire Alan Howard. The move is part of the bank's strategic efforts to expand its presence in the digital asset space. Zodia Markets, which is Standard Chartered's crypto unit, is looking to acquire the firm to strengthen its position in the growing cryptocurrency market. The deal is expected to be finalized by the end of the month, pending regulatory approvals.

Additionally, Zodia Markets is also in talks to acquire Elwood Capital Management's over-the-counter (OTC) business, which is also backed by Alan Howard. This acquisition is seen as a significant step for Standard Chartered in establishing a strong foothold in the cryptocurrency market. By acquiring Elwood Capital Management's OTC business, Zodia Markets aims to enhance its cryptocurrency trading capabilities and offerings to clients. The deal is expected to be completed this month, further solidifying Standard Chartered's commitment to expanding its crypto services.

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