24X Bermuda completes spot cryptocurrency trade 02 September 2026Bermuda Reporter: Matthew Challis
Image: totajla/stock.adobe.com
24X Bermuda, a fintech and electronic brokerage, has completed its first spot cryptocurrency trade on its institutional-grade, multi-asset trading platform.
According to 24X, the initiative makes it one of a select few venues offering both spot and FX trading on a single technology infrastructure.
The crypto spot trade was executed in Bitcoin (BTC) as part of the firm’s existing partnership with Standard Chartered.
Cumberland DRW served as the liquidity provider, and Standard Chartered acted as the liquidity taker for the trade.
24X’s cryptocurrency activity is regulated by the Bermuda Monetary Authority, and it also offers deliverable and non-deliverable swaps, metals, spot products, and non-deliverable forwards to institutional clients.
Commenting on the initiative, Dmitri Galinov, founder and CEO of 24X, says: “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 and FX trading and head of markets for the UK and Europe, adds: “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.”
Chris Zuehlke, global co-head at Cumberland DRW, remarks: “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.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one digital assets news source this
year, make sure it is your free subscription to The Digital Assets Edge
Image: totajla/stock.adobe.com 