24X Completes Spot Cryptocurrency Trade in BTC with Standard Chartered and Wintermute
HAMILTON, Bermuda, Oct. 19, 2026 /PRNewswire/ -- 24X Bermuda Limited ("24X") today announced that it has successfully completed its second consecutive spot cryptocurrency client trade on its institutional-grade, multi-asset trading platform, solidifying its position as one of a select few global venues offering both crypto spot and FX trading on a single, unified technology infrastructure.
The trade was executed in Bitcoin (BTC) as part of 24X's 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 and Wintermute served as liquidity provider for this trade.
The transaction follows 24X's inaugural spot crypto trade, in which Cumberland DRW served as liquidity provider. Taken together, these two trades mark the continued development of regulated, institutional-grade infrastructure for digital asset markets, demonstrating how established financial institutions and specialist liquidity providers are helping accelerate the adoption of digital assets by institutional investors.
"Institutional demand for digital assets is increasing at an unprecedented level, and our 24X platform is ready to meet this moment," said 24X CEO and Founder Dmitri Galinov. "This trade with Wintermute affirms the deep liquidity, rigorous oversight, and the seamless workflow of our crypto trading infrastructure. We are very happy to be working with Wintermute and Standard Chartered on this transaction, and we look forward to continuing to execute these types of trades as global markets continue to converge around digital assets."
"Institutions already represent a significant part of the digital asset market, as reflected in their record share of our OTC spot flow in the first half of 2026, and expect the same quality of execution and infrastructure they are used to in traditional markets. Meeting those expectations requires the long-term investment in technology and operational efficiency we've made since Wintermute was founded. That approach has allowed us to serve a broad range of counterparties and now expand into traditional markets. We're pleased to have provided liquidity for this trade," said Evgeny Gaevoy, CEO and founder of Wintermute.
24X also offers Deliverable Swaps, Non-Deliverable Swaps, Metals and Spot products to institutional customers in addition to NDFs. 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. 24X's crypto activity is regulated by the Bermuda Monetary Authority.
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. 24X lowers 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 https://24exchange.com/. 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 https://equities.24exchange.com/home.
About Wintermute
Wintermute is a global algorithmic trading firm, leading OTC desk, and liquidity provider operating across digital asset and traditional financial markets. With over $3.5 trillion in annual trading volume, it provides liquidity across more than 70 centralized and decentralized exchanges and is a key partner to token projects seeking deep, scalable liquidity. Wintermute's proprietary trading infrastructure allows it to trade across the entire digital asset ecosystem as well as on the leading global derivatives exchanges in traditional markets, making it the preferred counterparty for a broad range of market participants, including some of the world's largest financial institutions. Alongside trading, building is central to Wintermute's DNA, from backing early-stage projects through Wintermute Ventures to incubating new protocols, some of which have grown into independent businesses.
Media Contact:
Eric Andrus, KARV
24Xmedia@karv.global
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