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Zodia Markets Acquires Elwood Trading Desk to Boost OTC Operations

Zodia Markets, backed by Standard Chartered, acquires Elwood Technologies' OTC trading division, enhancing its daily trading volumes and focusing on SaaS growth.

Zodia Markets, a cryptocurrency trading firm supported by Standard Chartered, is set to acquire the over-the-counter (OTC) trading division of Elwood Technologies. This strategic move aims to bolster Zodia Markets' OTC business while allowing Elwood to concentrate on its software-as-a-service (SaaS) offerings.


Elwood Trading Desk logo, symbolizing the acquisition by Zodia Markets to enhance OTC operations.
Zodia Markets Strengthens OTC Trading with Elwood Acquisition

Key Points:


Acquisition Details:

  • Zodia Markets acquires Elwood Technologies' OTC trading division.

  • Elwood will shift focus to trading technology SaaS products and services.


Business Impact:

  • Zodia Markets aims to significantly increase its daily trading volumes, currently ranging from $50 million to $60 million.

  • The deal enhances Zodia Markets' capabilities in the institutional crypto space.


Industry Confidence:

  • Confidence in institutional crypto is rising, with regulated bank-backed projects expanding trading infrastructure.

  • Zodia Markets and Zodia Custody, both backed by Standard Chartered, are key players in this development.


Strategic Focus:

  • Elwood Technologies, led by crypto-friendly billionaire Alan Howard, emphasizes its role as a technology company.

  • The sale of the OTC business allows Elwood to dedicate resources to developing institutional-grade SaaS solutions.


Market Context:


  • The acquisition reflects the digital assets industry's maturation and increased competition.

  • Elwood's decision to sell is seen as a strategic move rather than a reaction to current market conditions.



Zodia Markets' acquisition of Elwood Technologies' OTC trading division marks a significant step in strengthening its trading capabilities. This move not only boosts Zodia's daily volumes but also aligns with Elwood's strategic focus on providing top-tier SaaS solutions, showcasing the evolving landscape of the digital assets industry.


Source: Coindesk


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