StanChart’s crypto unit in talks to buy Alan Howard-backed firm, Bloomberg reports

July 9 (Reuters) – Standard Chartered Plc’s (2888.HK), opens new tab, (STAN.L), opens new tab crypto unit, Zodia Markets, is in talks to acquire billionaire hedge fund manager Alan Howard-backed Elwood Capital Management’s OTC business, Bloomberg News reported on Tuesday.

The acquisition of Elwood Capital would enable Zodia Markets to expand its focus on OTC settlement services in the British Channel Island of Jersey by obtaining essential licenses, the report said, citing people with knowledge of the matter.