Investment bank Zodia Markets Ltd. plans to buy part of Elwood Capital Management Ltd. 🤝 Alan Howard-backed company, the deal is expected to be completed within this month. Elwood Capital offers over-the-counter (OTC) crypto trading and settlement services. 📈

Zodia's move will support a shift towards OTC settlement services, while licensing it as a virtual asset service provider and investment business in Jersey. 💼

He noted that Standard Chartered sees cryptocurrencies, particularly stablecoins, as a permanent part of the future of finance. 🚀

However, the asset has been in a downtrend since the all-time high in March and corrected 26% from that level last week. 💔

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