Standard Chartered Bank-backed digital asset trading firm Zodia Markets has acquired Elwood Capital Management Limited (ECML), the over-the-counter (OTC) trading business of Elwood Technologies.
The sale signals Elwood’s goal to focus on institutional SaaS products, including advanced execution management and portfolio and risk management systems.
ECML is a leading provider of liquidity solutions to clients globally, including asset managers, token foundations and family offices.
The acquisition Zodiac Marketis registered with the FCA in the UK and the Central Bank of Ireland and authorized in principle by Abu Dhabi Global Market, strengthening its regulated presence and expanding its services to institutional investors globally.
Following the transaction, the entity will be renamed Zodia Markets Jersey Ltd.
Chris Roan
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 will enable us to fully commit our resources to our SaaS business.
In line with our vision, Elwood is investing heavily in its software platform and has recently completed the build and integration of a new PMS with advanced functionality.”
Usman Ahmad
Usman Ahmad, co-founder and CEO of Zodiac Market, added:
“This acquisition marks an important step forward to further diversify our service offering and business footprint, enabling us to increase scale and accelerate our product capabilities. Building on our exceptional growth in the first half of the year, we are poised to further capitalize on global institutional demand for digital asset solutions.”
“Acquiring a successful, established firm with a similar regulation-first mindset will enable us to expand our service offerings to welcome clients and provide greater capabilities and value to our existing clients.”
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