{"id":34021,"date":"2024-07-11T08:15:56","date_gmt":"2024-07-11T08:15:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-acquires-leading-otc-crypto-desk\/"},"modified":"2024-07-11T08:15:56","modified_gmt":"2024-07-11T08:15:56","slug":"standard-chartered-acquires-leading-otc-crypto-desk","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/standard-chartered-acquires-leading-otc-crypto-desk\/","title":{"rendered":"Standard Chartered Acquires Leading OTC Crypto Desk"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Standard Chartered is heating up its crypto ventures. Its crypto arm, Zodia Markets, is reportedly close to acquiring Elwood Capital Management, a crypto firm backed by billionaire Alan Howard.<\/p>\n

Bloomberg reported on July 9 that Zodia Markets is in advanced talks to acquire Elwood Capital. The deal may finalize by the end of the month. This acquisition marks a significant shift for Zodia, which launched as a cryptocurrency exchange in 2021. Earlier this year, the company had to shut down its exchange services due to low demand for crypto products.<\/p>\n

Elwood Capital specializes in over-the-counter (OTC) crypto trading and settlement services. Acquiring Elwood would provide Zodia with vital licenses as a virtual asset provider and investment business in Jersey. These licenses would significantly enhance Zodia\u2019s ability to establish itself as a key player in OTC settlement, which acquired a license in Ireland<\/a> last year.<\/p>\n

Strategic Pivot for Zodia<\/strong><\/h2>\n

This acquisition indicates a strategic pivot for Zodia Markets. Standard Chartered is adapting to the evolving financial landscape. The bank is considering launching its own Bitcoin and Ether trading desk, potentially becoming one of the first major banks to enter the spot trading arena.<\/p>\n

Alan Howard\u2019s potential sale of Elwood Capital could signify a portfolio reshuffle. He recently put several of his crypto-related assets up for sale. This move hints at reinvesting those funds into Brevan Howard Digital, his hedge fund\u2019s dedicated crypto subsidiary.<\/p>\n

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The move by Standard Chartered mirrors a broader trend. Traditional financial institutions are recognizing the potential of blockchain technology and cryptocurrencies. Standard Chartered\u2019s steps into the crypto market reflect this growing interest. The acquisition of Elwood Capital and the focus on OTC services represent a calculated expansion into the crypto space.<\/p>\n

Zodia\u2019s renewed focus on OTC services, combined with Elwood Capital\u2019s expertise, positions the firm well for future success. As the financial industry evolves, traditional banks like Standard Chartered are cautiously yet strategically venturing into the cryptocurrency market.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Standard Chartered is heating up its crypto ventures. Its crypto arm, Zodia Markets, is reportedly close to acquiring Elwood Capital Management, a crypto firm backed by billionaire Alan Howard. Bloomberg reported on July 9 that Zodia Markets is in advanced talks to acquire Elwood Capital. The […]<\/p>\n","protected":false},"author":35,"featured_media":34022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34021"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=34021"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/34022"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=34021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=34021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=34021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}