24X executes first spot bitcoin trade with Standard Chartered and Cumberland DRW

24X  has completed its first spot cryptocurrency trade, a bitcoin transaction executed through its existing partnership with Standard Chartered.

During the transaction, Standard Chartered acted as liquidity taker and Cumberland DRW served as liquidity provider.The Bermuda-based multi-asset trading venue confirmed thatthe trade was carried out on its platform, which already supports deliverable and non-deliverable swaps, metals and spot FX. 

Dmitri Galinov, chief executive and founder of 24X, 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.” 

The trade forms part of its continued work to deliverregulated infrastructure for institutional digital asset markets. 

John Newman, global head of rates and FX trading at Standard Chartered, said: “Institutional demand for digital assets continues to grow as the market evolves and regulatory frameworks mature. 

“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.” 

24X received SEC approval inNovember 2024to run a round-the-clock US equities exchange and began 23-hour weekday trading inOctober 2025. 

Cantor Securities joined as a member firm inFebruary, and inJune 202624X submitted a proposal to the SEC seeking approval for tokenised trading of Russell 1000 stocks and major-index ETFs. 

« Bloomberg promotes internally for EMEA buy-side fixed income electronic trading sales head

Source: www.thetradenews.com