Standard Chartered and Cumberland DRW served as counterparties for the inaugural spot crypto trade.

HAMILTON, Bermuda, Sept. 1, 2026 /PRNewswire/ — 24X Bermuda Limited ("24X") announced that it has completed its first spot cryptocurrency trade on its institutional-grade, multi-asset trading platform, becoming one of a select few global venues offering both crypto spot and FX trading on a single, unified technology infrastructure.

The inaugural crypto spot trade was executed in Bitcoin (BTC) as part of 24X's existing strategic partnership with Standard Chartered, a leading international banking group and one of the world's global systemically important banks (G-SIBs). Standard Chartered acted as liquidity taker, while Cumberland DRW served as liquidity provider. The transaction marks a significant milestone in the continued development of regulated, institutional-grade infrastructure for digital asset markets, demonstrating how established financial institutions and specialist liquidity providers are helping accelerate institutional adoption of digital assets. The trade also illustrates a broader trend among global banks, which have progressively expanded into digital asset services — including custody, trading, and market-making support — as regulatory frameworks for crypto have matured across major jurisdictions.

24X CEO and Founder Dmitri Galinov said, "Institutional demand for digital assets has never been stronger, and today's milestone crypto trade demonstrates that the 24X platform is ready for it. Our crypto trading infrastructure delivers the deep liquidity, rigorous oversight, and the same seamless workflow global financial institutions have come to expect from 24X. We are proud to have Standard Chartered and Cumberland DRW as the counterparties for this landmark transaction, and we look forward to rapidly expanding our crypto spot offering as global markets continue to converge around digital assets."

John Newman, Standard Chartered's Global Head of Rates & FX Trading and Head of Markets UK & Europe, said, "Institutional demand for digital assets continues to grow as the market evolves and regulatory frameworks mature. Standard Chartered is committed to providing clients with secure, regulated and institutional-grade access to digital asset markets. This successful trade highlights the strength of our global trading capabilities, robust infrastructure and risk management framework, while demonstrating how regulated banking institutions can help bridge traditional finance and the digital assets ecosystem."

"We are proud to have served as liquidity provider to Standard Chartered for this milestone Bitcoin trade on 24X," said Chris Zuehlke, Global Co-Head at Cumberland DRW. "For more than a decade, Cumberland has helped build institutional digital asset markets by providing deep, reliable liquidity backed by DRW's 30-plus years of expertise managing risk across global financial markets. As institutional adoption accelerates, we remain focused on delivering the execution quality and market infrastructure that enable banks and other institutions to trade digital assets with confidence."

24X Bermuda Limited's cryptocurrency activity is regulated by the Bermuda Monetary Authority, which has operated a Digital Asset Business Act licensing regime since 2018 and has positioned Bermuda as one of the jurisdictions with established frameworks for digital asset businesses. In addition to NDFs, 24X offers Deliverable Swaps, Non-Deliverable Swaps, Metals and Spot products to institutional customers. Since its launch in 2019, 24X's multi-asset offering through a single trading interface has enabled market participants to access increased liquidity at lower cost. Following the inaugural BTC trade, Galinov's stated intention to "rapidly expand" the crypto spot offering indicates that additional digital assets on the platform are a key area to watch.

About 24X

24X Bermuda Holdings LLC ("24 Exchange") is a privately held company with two primary operating subsidiaries: 24X Bermuda Limited, which allows seamless and cost-effective exchange of currency exposures; and 24X National Exchange LLC, the first national securities exchange approved by the SEC to operate 23 hours each weekday. 24X's mission is to enable cost-effective trades across a growing range of asset classes around the clock, lowering the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at 24X National Exchange enables retail and institutional customers around the world to trade in U.S. equities via broker-dealers who are approved members. More information about 24X National Exchange is available at

About Standard Chartered

Standard Chartered is a leading international banking group with a presence in 54 of the world's most dynamic markets. Its purpose is to drive commerce and prosperity through its unique diversity, and its heritage and values are expressed in its brand promise, "here for good." Standard Chartered PLC is listed on the London and Hong Kong stock exchanges. For more stories and expert opinions, visit Insights at Follow Standard Chartered on X at https://www.twitter.com/stanchart, on LinkedIn at on Instagram at and on Facebook at

Media contact: Eric Andrus, KARV — 24Xmedia@karv.global

Source: Chainwire