24X issued a press release today announcing an expansion of its partnership with Standard Chartered to include digital asset prime brokerage. According to the announcement, clients will be able to trade Bitcoin and Ethereum on 24X’s institutional multi-asset platform, with Standard Chartered acting as the central counterparty.
The press release is clear: clients will face only one bank counterparty, Standard Chartered, while OTC liquidity will be routed through 24X. 24X itself will act solely as the execution venue, handling liquidity allocation, matching, and straight-through processing. The company also said that this makes 24X the first trading platform to offer both crypto and FX products with Standard Chartered as the central counterparty.
The two parties’ existing prime brokerage arrangement already covers FX forwards, spot, deliverable and non-deliverable swaps, as well as metals. Bitcoin and Ethereum will be handled under a similar arrangement. 24X’s crypto business in Bermuda is regulated by the Bermuda Monetary Authority. The press release also noted that, not long ago, Standard Chartered participated in spot crypto trading on the 24X platform as a liquidity taker, with Cumberland DRW and Wintermute acting as liquidity providers.
$BTC $ETH #渣打 #Institutional
The press release is clear: clients will face only one bank counterparty, Standard Chartered, while OTC liquidity will be routed through 24X. 24X itself will act solely as the execution venue, handling liquidity allocation, matching, and straight-through processing. The company also said that this makes 24X the first trading platform to offer both crypto and FX products with Standard Chartered as the central counterparty.
The two parties’ existing prime brokerage arrangement already covers FX forwards, spot, deliverable and non-deliverable swaps, as well as metals. Bitcoin and Ethereum will be handled under a similar arrangement. 24X’s crypto business in Bermuda is regulated by the Bermuda Monetary Authority. The press release also noted that, not long ago, Standard Chartered participated in spot crypto trading on the 24X platform as a liquidity taker, with Cumberland DRW and Wintermute acting as liquidity providers.
$BTC $ETH #渣打 #Institutional