Standard Chartered Completes First Spot Bitcoin Trade on 24X
Standard Chartered completed its first spot Bitcoin trade on the institutional platform of 24X. The bank acted as the liquidity taker in this transaction, with Cumberland DRW serving as the liquidity provider.
The trade took place on September 1, but details such as the trade size, execution price, and settlement method remain undisclosed. This inaugural trade does not provide insight into Standard Chartered's Bitcoin view or whether it was trading for itself or a client.
24X places spot crypto and foreign-exchange products on one technology stack, allowing banks to reach both markets without adding separate systems. By integrating Bitcoin into this workflow, Standard Chartered can access another asset class through existing infrastructure designed for institutional markets.