---
title: "24X Settles Spot Bitcoin Trade Between Standard Chartered and Wintermute"
description: "Standard Chartered took liquidity while Wintermute acted as market maker in a spot BTC transaction on the multi-asset 24X Bermuda platform."
url: https://basisdesk.news/news/24x-completes-spot-btc-trade-standard-chartered-wintermute
published: 2026-10-19T10:11:04.308Z
modified: 2026-10-19T10:11:04.308Z
section: Institutions & ETFs
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bullish
tickers: [BTC]
tags: [standard-chartered, wintermute, 24x, institutional-trading, bitcoin, otc]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# 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.

## At a glance

- **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.
- **Status:** announced
- **Primary source:** [24X Completes Spot Cryptocurrency Trade in BTC with Standard Chartered and Wintermute](https://www.prnewswire.com/news-releases/24x-completes-spot-cryptocurrency-trade-in-btc-with-standard-chartered-and-wintermute-302910545.html) — PR Newswire

## 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].

## Editorial remark

- **Context:** 24X Bermuda launched its multi-asset architecture in 2019 to bridge institutional FX, derivatives, and digital asset trading under Bermuda Monetary Authority oversight.
- **Impact:** Global systemically important banks like Standard Chartered are accessing crypto spot liquidity directly from algorithmic desks through regulated unified matching engines.
- **Watch:** Market participants are monitoring the addition of further tier-one banking counterparties and expanding asset pairs on 24X's institutional venue.

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. [24X Completes Spot Cryptocurrency Trade in BTC with Standard Chartered and Wintermute](https://www.prnewswire.com/news-releases/24x-completes-spot-cryptocurrency-trade-in-btc-with-standard-chartered-and-wintermute-302910545.html) — PR Newswire, 2026-10-19

---
Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai