Zodia Markets, a subsidiary of Standard Chartered, has agreed to acquire Elwood Technologies' Jersey-based digital asset over-the-counter trading business, Elwood Capital Management, for an undisclosed sum.

Following the completion of the sale, the entity will become Zodia Markets Jersey, while Elwood Technologies will continue to focus on its institutional-grade SaaS products, according to a statement on Wednesday.

"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,” Elwood CEO Chris Lawn said.

The announcement confirms reports from last week that Zodia Markets was in talks to acquire the company, providing the Standard Chartered …