🚀Buckle up, Bitcoin enthusiasts! Zodia Markets Ltd., the crypto division of the investment bank, is reportedly in talks to acquire a part of Elwood Capital Management Ltd. 💼 This firm, backed by billionaire hedge fund manager Alan Howard, offers over-the-counter (OTC) crypto trading and settlement services. The deal is expected to close this month! 📅

This strategic move would grant Zodia licenses as a virtual asset service provider and investment business in Jersey and support a shift towards OTC settlement services. 🎯 This comes after Standard Chartered's announcement in June about launching a BTC and ETH trading desk in London. 🏦

Elwood Capital is a part of Elwood Technologies, established by Alan Howard in 2018, and has raised $70 million from investors, including Goldman Sachs Group. 💰 Howard invested in crypto companies up for sale in January, with plans of reinvesting any proceeds into his firm, Brevan Howard Digital. 🔄

Zodia Markets was launched by Standard Chartered in 2021 as a joint venture with Hong Kong’s BC Technology Group. 🌐 Its primary focus now is to offer high-speed, wholesale cross-border settlement services between fiat currencies and stablecoins. 🌍

Standard Chartered is bullish on crypto, stating that cryptocurrencies, especially stablecoins, are a permanent part of the future of finance. 🚀 Geoff Kendrick, head of digital assets research at the bank, predicted that Bitcoin could reach $150,000 in 2024. However, the asset has been down-trending since its all-time high in March. 📉 Stay tuned for more updates! 📰