24X Completes First Spot Crypto Trade with Standard Chartered and Cumberland DRW
24X Bermuda Limited has completed its first spot cryptocurrency trade on its institutional-grade platform. The company announced that it executed the trade in Bitcoin (BTC) as part of an existing partnership with Standard Chartered, a leading international banking group. Standard Chartered acted as the liquidity taker and Cumberland DRW served as the liquidity provider for this transaction.
The milestone crypto trade marks a significant step forward for regulated institutional-grade infrastructure in digital asset markets. According to Dmitri Galinov, CEO of 24X, 'Institutional demand for digital assets has never been stronger.' He added that his company's platform delivers 'deep liquidity, rigorous oversight, and the same seamless workflow global financial institutions have come to expect from 24X.'
John Newman, Standard Chartered's Global Head of Rates & FX Trading and Head of Markets UK & Europe, stated that 'Institutional demand for digital assets continues to grow as the market evolves and regulatory frameworks mature.' He emphasized his company's commitment to providing clients with secure, regulated access to digital asset markets.
Chris Zuehlke, Global Co-Head at Cumberland DRW, said, 'We are proud to have served as liquidity provider to Standard Chartered for this milestone Bitcoin trade on 24X.'