Zodia Markets, a cryptocurrency trading company supported by the venture capital department of Standard Chartered Bank, has confirmed its acquisition of the OTC business under Elwood Technologies, with financial terms yet to be disclosed. Elwood stated on Monday that post-sale, it will focus on its trading technology Software as a Service (SaaS) products and services. Usman Ahmad, CEO of Zodia Markets, mentioned that the company's OTC business currently processes daily trading volumes of up to 60 million USD, with expectations of a significant increase in trading volume. Earlier reports indicated that Zodia Markets was in talks to acquire a portion of Elwood Technologies' equity to obtain its OTC business. Elwood Technologies is a digital asset company supported by billionaire hedge fund manager Alan Howard.

Odaily Planet Daily reports that the cryptocurrency trading company Zodia Markets, supported by the venture capital arm of Standard Chartered Bank, has confirmed that it is acquiring the OTC business of Elwood Technologies, with financial terms not yet disclosed.
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 said that the company's OTC business currently handles a trading volume of up to $60 million per day. He did not reveal details of how much customer trading volume this deal might bring to Zodia, but stated in an email that the company expects "a significant increase in daily trading volume." (CoinDesk)
Previously, Zodia Markets was in talks to acquire a stake in Elwood Technologies to obtain its OTC business, reportedly a digital asset company backed by billionaire hedge fund manager Alan Howard.

Zodia Markets confirms the acquisition of the OTC business under Elwood Technologies.