Standard Chartered-backed Zodia Markets to acquire the OTC trading business from Elwood.

Standard Chartered-backed Zodia Markets, a prominent UK-headquartered digital asset trading business, agreed to acquire the OTC trading business from Elwood, a provider of digital asset execution and portfolio management software. Financial terms were not disclosed. "This sale marks an important new chapter for Elwood and strengthens our position as a leading provider of execution and portfolio management software for global institutions that trade and manage digital assets. 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 has been investing heavily in our software platform and we recently completed the build-out and integration of our new PMS with advanced capabilities," Chris Lawn, Elwood CEO.