๐๐ Standard Chartered's crypto division, Zodia Markets, is eyeing a stake in Elwood Capital Management. This move could give Zodia licenses as a virtual asset service provider and investment business in Jersey.
๐ค Elwood Capital, backed by billionaire Alan Howard, offers OTC crypto trading and settlement services. The deal is expected to close this month.
๐ผ Zodia, a joint venture between Standard Chartered and Hong Kongโs BC Technology Group, aims to offer high-speed, wholesale cross-border settlement services between fiat currencies and stablecoins.
๐ฐ OTC settlement operations now handle $50 to $60 million in daily trading volumes.
๐ฎ Standard Chartered is bullish on crypto, especially stablecoins, seeing them as a permanent part of the future of finance.
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