LONDON, July 17, 2024 /PRNewswire/ -- Elwood
Technologies ("Elwood"), a leading provider of digital asset
execution and portfolio management software, and Zodia Markets, a
prominent UK-headquartered digital asset trading business backed by
Standard Chartered, are pleased to announce that Zodia Markets has
agreed to acquire Elwood Capital Management Ltd ("ECML"), Elwood's
Digital Asset OTC trading business based in Jersey and regulated by
the Jersey Financial Services Commission.
The sale of ECML to Zodia Markets represents Elwood's ongoing
commitment to focus on and enhance its institutional-grade SaaS
products and services. These include an Execution Management System
("EMS") with advanced tools for accessing liquidity, and an
institutional-grade Portfolio & Risk Management System ("PMS")
with enhanced portfolio management and risk capabilities.
ECML has been instrumental in providing liquidity solutions to
its global client base spanning asset managers, token foundations,
family offices and leading digital asset businesses. The
acquisition by Zodia Markets, who run businesses registered by the
UK's FCA, Central Bank of Ireland,
and approved in principle in Abu Dhabi Global Market, marks another
significant step in the firm's ongoing expansion strategy. The
acquisition solidifies its regulated presence, enabling enhanced
services to institutional clients worldwide.
"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," said Chris
Lawn, CEO of Elwood. "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."
"We are confident that our strategic partner Zodia Markets will
continue to provide exceptional service to OTC clients and we will
be working closely with them to ensure a smooth transition."
Following completion of the transaction, the entity will be
known as Zodia Markets Jersey Ltd.
Usman Ahmad, Co-Founder and CEO
of Zodia Markets, shared, "This acquisition is a significant
progression to create 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 further capitalise on the
global institutional demand for digital asset solutions.
Usman continued, "Acquiring a successful, established business
with a similar regulatory-first mindset allows us to extend our
offering to the clients we will welcome and provide our existing
clients with a broader suite of capabilities and value. Our
commitment to driving sustained growth remains paramount, as we
continue to innovate at the forefront of the digital asset sector
and be the go-to trading partner for institutions."
About Elwood:
Elwood is an established, global fintech building digital assets
infrastructure for institutional investors. Its seamless end-to-end
SaaS platform connects to global crypto exchanges and liquidity
providers and delivers execution and portfolio analytics
functionality with advanced risk management tools for digital asset
markets. Built by industry experts with decades of combined
experience in traditional finance and digital technology, Elwood
provides market infrastructure at scale, enabling financial
institutions, neobanks, and corporations to access digital asset
markets quickly and efficiently.
About Zodia Markets
Zodia Markets is an institutional digital asset trading business
whose mission is to make the unfamiliar, familiar. We are the
trusted institutional trading partner for corporations and
institutions who want to trade in digital assets, but who don't
want to compromise on the standards and principles associated with
traditional finance. Zodia Markets is backed by SC Ventures, the
innovation, and ventures unit of Standard Chartered, and OSL Group,
Asia's leading digital asset
company. For more information visit www.zodiamarkets.com or contact
us directly at contact@zodiamarkets.com.
CONTACT INFORMATION
Jennifer
Berlin
Forefront Communications
+44 (0) 7375 288 641
jberlin@forefrontcomms.com
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