Zodia Markets announced that it is acquiring the OTC business of Elwood Technologies

2024-07-17 15:41:31

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ChainCatcher news, cryptocurrency trading company Zodia Markets, supported by Standard Chartered Bank's venture capital division, announced that it is acquiring the OTC business of Elwood Technologies, with financial terms undisclosed.

Elwood stated on Monday that after selling this business, the company will focus on its trading technology software as a service (SaaS) products and services.
Zodia Markets CEO Usman Ahmad mentioned that the company's OTC business currently handles trading volumes of up to $60 million daily. He did not disclose details on how much customer trading volume this deal might bring to Zodia, but stated via email that the company expects "daily trading volumes to increase significantly."

Previous news, Zodia Markets is in talks to acquire a stake in Elwood Technologies to gain its OTC business, which is reportedly a digital asset company backed by billionaire hedge fund manager Alan Howard.

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Zodia Custody Institutional-grade cryptocurrency custody solutions