Overview
- 24X announced an expanded partnership with Standard Chartered to enable institutional trading of Bitcoin and Ethereum on its multi-asset execution platform.
- Under the arrangement institutions will face Standard Chartered as their counterparty while 24X handles order matching, liquidity configuration and straight‑through processing.
- The move follows preliminary spot BTC trades on 24X in which Standard Chartered took liquidity and Cumberland DRW and Wintermute provided liquidity, showing live routing ahead of a wider roll‑out.
- 24X has not disclosed a launch date or full operational details such as settlement timing, margin terms, custody mechanics or how bank-mediated credit will work in practice.
- 24X is regulated by the Bermuda Monetary Authority and registered with U.S. futures authorities, and this bank‑intermediated model could lower multiple counterparty credit exposure and make crypto trading more familiar for institutional clients.