Crypto division of the investment bank Zodia Markets Ltd. is discussing the purchase of part of Elwood Capital Management Ltd., backed by billionaire hedge fund manager Alan Howard. The deal is expected this month. 📈💼

Elwood Capital offers OTC trading and settlement services for cryptocurrencies. The move will be strategic for Zodia Markets as it will give it licenses to provide virtual asset services and investment business in Jersey.

Zodia Markets was launched by Standard Chartered in 2021. The company's main goal now is to leverage its relationship with Standard Chartered to provide fast wholesale international settlement services between fiat currencies and stablecoins.

Standard Chartered said cryptocurrencies, especially stablecoins, are a permanent part of the future of finance.