Zodia Markets, the Standard Chartered-backed digital asset trading firm, has acquired Elwood Technologies' over-the-counter (OTC) trading business, Elwood Capital Management Ltd (ECML).
The sale represents Elwood's goal to focus on its enterprise-grade SaaS products, including advanced Execution Management and Portfolio and Risk Management Systems.
ECML has been a leading provider of liquidity solutions to global clients including asset managers, token foundations and family offices.
acquisition by Zodiac MarketsRegistered with the UK FCA and the Central Bank of Ireland and approved in principle by Abu Dhabi Global Market, it enhances its regulated presence and extends its services to institutional clients worldwide.
Following the transaction, the entity will be renamed Zodia Markets Jersey Ltd.
Chris Lawn, CEO of Elwood said:
“The sale of our OTC trading business supports Elwood's strategic plan to build a world-class end-to-end EMS and PMS software platform and allows us to fully dedicate our resources to the SaaS business.
In line with our vision, Elwood is investing in our software platform and we recently completed the build and integration of our new PMS with advanced capabilities.”
Usman Ahmad, Co-Founder and CEO of Zodia Markets, added:
“This acquisition is a significant step forward in creating greater diversification in our service offering and footprint, enabling scale and accelerating product capability. Building on our exceptional growth in the first half of the year, we are well positioned to take advantage of further global institutional demand for digital asset solutions.
Acquiring a successful and established business with a similar regulatory-first mindset allows us to expand our offering to prospective clients and provide a broader set of capabilities and value to our existing clients.
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