Bloomberg: Standard Chartered's crypto company Zodia Markets is in talks to buy a portion of Elwood Technologies

Comparing news, according to Bloomberg, Zodia Markets, a cryptocurrency subsidiary of Standard Chartered Bank, is in talks to acquire part of Elwood Technologies, a digital asset company supported by billionaire hedge fund manager Alan Howard.

People familiar with the matter said that Zodia Markets is about to reach an agreement to acquire Jersey-based Elwood Capital Management Ltd., which provides OTC trading and settlement services. Since the negotiations have yet to be made public, people familiar with the matter declined to be named. A person familiar with the matter said the deal is expected to close this month.

The negotiations come at a time when Standard Chartered Bank is further entering the digital asset sector. Bloomberg News reported last month that Standard Chartered Bank plans to set up Bitcoin and Ether trading counters. A person familiar with the matter said that the acquisition of Elwood Capital will allow Zodia Markets to obtain a Jersey virtual asset service provider and investment business license, thereby supporting the company to focus more on OTC settlement services.