Fun

Standard Chartered’s crypto arm eyes buying billionaire’s crypto OTC firm: Report

News Feed - 2024-07-10 11:07:00

Tom Mitchelhill6 hours agoStandard Chartered’s crypto arm eyes buying billionaire’s crypto OTC firm: ReportZodia Markets is reported to be in talks to buy Elwood Capital Management, a crypto firm backed by billionaire hedge fund manager Alan Howard.2598 Total views14 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksZodia Markets, the crypto subsidiary of British multinational bank Standard Chartered, is reported to be in talks to buy Elwood Capital Management, a crypto firm backed by billionaire hedge fund manager Alan Howard.


The deal between Zodia Markets and Elwood Capital — which offers over-the-counter crypto trading and settlement services — is expected to close before the end of this month, Bloomberg reported on July 9, citing people familiar with the matter.


Zodia Market’s acquisition of Elwood Capital would provide the firm with licenses as a virtual asset provider and investment business in Jersey — an island British crown dependency off the coast of Northern France — one person familiar with the deal said.


This would reportedly bolster Zodia’s ongoing efforts to focus on OTC settlement services.


Zodia Markets is a crypto exchange launched by Standard Chartered in 2021, a joint venture between the bank’s venture capital subsidiary and Hong Kong’s BC Technology Group.


It shuttered its services earlier this year due to tepid demand for crypto products, the firm’s CEO Usman Ahmad told Bloomberg in June.


Related:Standard Chartered expects SEC to greenlight spot Ether ETF this week


Howard, the billionaire hedge fund manager of Brevan Howard Asset Management, put several of his private holdings in crypto companies up for sale in February. He intends to reinvest the earnings into Brevan Howard Digital, the hedge fund"s crypto subsidiary.


Standard Chartered has been making efforts to expand its footprint in the crypto industry. On June 21, it was reported the bank may be looking to launch its own trading desk for Bitcoin (BTC) and Ether (ETH).Source:Richard Teng


If launched, this would see Standard Chartered become one of the first global banking institutions to become involved in the spot trading of cryptocurrencies.


Magazine:Crypto exposes sudden rift among Democrats months ahead of election# Cryptocurrencies# Business# Adoption# Cryptocurrency Exchange# United Kingdom# OTCAdd reaction

News Feed

Tom Blackstone7 hours agoCoinEx exchange drained of $27M worth of crypto in suspected hackA CoinEx hot wallet transferred $27 million of various tokens to a wallet with no previous history in what the exchange’s team h
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State
Ana Paula Pereira4 hours agoTokenization is “securitization done on steroids" — Franklin Templeton CEOSpeaking at CNBC’s Delivering Alpha event, Jenny Johnson discussed how digital assets are disrupting securi
Telegram Releases Test Crypto Wallet Despite SEC Lawsuit
Telegram, the messaging app company turned blockchain startup, has released an early desktop wallet for its “gram” token. Now users can download the test app for MacOS,
Assetera launches secondary tokenized RWA market on Polygon
Derek Andersen11 hours agoAssetera launches secondary tokenized RWA market on PolygonAssetera will provide Europe"s first regulated secondary tokenized real-world asset marketplace.1262 Total views1 Total sharesListen to
Nigeria Central Bank Governor Says CBDC Launch Just ‘a Couple of Days’ Away
Nigeria Central Bank Governor Says CBDC Launch Just "a Couple of Days" Away The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s u
BlackRock sets spot Ether ETF fee at 0.25% amid rush of S-1 filings
Brayden Lindrea8 hours agoBlackRock sets spot Ether ETF fee at 0.25% amid rush of S-1 filingsBlackRock’s iShares Ethereum Trust will start at a 0.12% fee until 12 months passes or after it amasses $2.5 billion in net a
Canada Launches First Staking-Enabled SOL ETFs, Here’s Why Solaxy Is Key to SOL’s Future
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Prashant Jha1 hour agoCurve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance RedefinedThe DeFi ecosystem had another exploit of over $2 million on a stablecoin liquidity pool this past we
FTX victims go after company’s assets from criminal forfeiture
Turner Wright5 hours agoFTX victims go after company’s assets from criminal forfeitureThough Sam Bankman-Fried is currently serving a prison sentence, affected FTX customers and creditors are making claims on the firm
2022’s Market Review: Crypto Economy Loses $1.4T, Top 10 Token Knockouts, Terra’s Collapse
2022’s Market Review: Crypto Economy Loses $1.4T, Top 10 Token Knockouts, Terra’s Collapse 2022 is coming to an end and during the last 12 months, the crypto economy has lost r
Bitcoin, Ethereum Technical Analysis: BTC Falls to 5-Month Low
Bitcoin, Ethereum Technical Analysis: BTC Falls to 5-Month Low The selloff in cryptocurrencies continued to start the week, with bitcoin falling to its lowest level since July. Eth