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Institutions & ETFs · 1 min read

24X Settles Spot Bitcoin Trade Between Standard Chartered and Wintermute

Standard Chartered took liquidity while Wintermute acted as market maker in a spot BTC transaction on the multi-asset 24X Bermuda platform.

Editorial oversight: Julian Mercer, Chief Editor
Bullish
$BTC $82,332 +0.4%

At a glance Announced

What happened
24X announced the execution of a spot Bitcoin trade with Standard Chartered as liquidity taker and Wintermute as liquidity provider.
Why it matters
The deal illustrates tier-one institutional banks accessing digital asset spot liquidity via unified foreign exchange and crypto market infrastructure.
Who is affected
Institutional crypto market makers, global systemically important banks, and multi-asset trading venues.
What's next
24X plans to continue executing institutional trades across its unified crypto and FX platform.
Primary source
PR Newswire: 24X Completes Spot Cryptocurrency Trade in BTC with Standard Chartered and Wintermute

Key points

  • 24X completed a spot BTC trade with Standard Chartered as liquidity taker and Wintermute as liquidity provider 1.
  • The transaction marks the second spot crypto trade on 24X following an earlier execution with Cumberland DRW 1.
  • Wintermute reported that institutions represented a record share of its OTC spot flow in the first half of 2026 1.

Institutional trading venue 24X Bermuda Limited has executed a spot $BTC transaction between Standard Chartered and algorithmic trading firm Wintermute 1.

Under the arrangement, Standard Chartered acted as the liquidity taker and Wintermute served as the liquidity provider 1. The transaction represents the second consecutive spot cryptocurrency client trade completed on the 24X multi-asset platform, following an inaugural trade executed with Cumberland DRW serving as liquidity provider 1. 24X stated that its crypto activity is regulated by the Bermuda Monetary Authority 1.

Multi-Asset Convergence

24X operates a platform designed to combine foreign exchange and digital asset spot trading on a unified technical architecture 1. Alongside cryptocurrency spot markets, the company provides institutional clients with access to deliverable swaps, non-deliverable swaps, non-deliverable forwards (NDFs), and precious metals 1. Wintermute CEO Evgeny Gaevoy noted that institutional counterparties accounted for a record share of the firm's over-the-counter spot trading volume during the first half of 2026 1.

The trade reflects ongoing institutional connectivity between global systemically important banks and dedicated crypto market makers 1. At the time of writing, Bitcoin traded at $82,783, up 0.9% over the past 24 hours.

Sources

  1. [1] 24X Completes Spot Cryptocurrency Trade in BTC with Standard Chartered and Wintermute — PR Newswire, October 19, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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