24X has integrated Bitcoin and Ethereum into its institutional trading platform, utilizing Standard Chartered as the central counterparty to streamline digital asset access for institutional clients.
Bitcoin gains a new institutional access channel: Standard Chartered as central counterparty with Cumberland DRW and Wintermute providing liquidity on 24X. Broader institutional prime brokerage access is incrementally supportive, but the platform is new with no stated volumes, so the price effect should be modest.
Ethereum is explicitly named as a new tradable asset on 24X with Standard Chartered acting as central counterparty, adding institutional prime brokerage access. No volumes are given, so the immediate price impact is likely small but directionally positive for adoption.
Standard Chartered expands its prime brokerage with 24X to centrally clear Bitcoin and Ethereum trades for institutional clients, deepening its digital assets franchise. It is a routine business expansion without disclosed volumes, revenues or terms, so no quantifiable earnings effect is stated.
24X Bermuda Limited has expanded its partnership with Standard Chartered to include digital assets prime brokerage. The platform now enables institutional trading of Bitcoin and Ethereum, with Standard Chartered serving as the central counterparty for these trades. This integration allows institutional clients to access OTC liquidity while facing only the bank, building on the existing 24X offering of FX, NDFs, and metals.
No, the article describes 24X as an institutional-grade platform offering spot crypto to institutional customers; no retail access is mentioned.
No. The article only announces institutional trading access via 24X and Standard Chartered; it contains no volume or demand figures.
The announcement says Standard Chartered acts as the central counterparty for crypto trades on 24X, alongside its existing FX and metals prime brokerage, but gives no revenue or volume figures.