---
title: "24X Expands Standard Chartered Prime Brokerage to Bitcoin and Ethereum"
description: "Standard Chartered acts as central counterparty for crypto spot execution alongside FX and metals on the Bermuda-regulated trading venue."
url: https://basisdesk.news/news/24x-standard-chartered-crypto-prime-brokerage-expansion
published: 2026-11-10T06:51:33.597Z
modified: 2026-11-10T06:51:33.597Z
section: Institutions & ETFs
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: neutral
tickers: [BTC, ETH]
tags: [prime-brokerage, standard-chartered, 24x, institutional-custody, otc-liquidity]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# 24X Expands Standard Chartered Prime Brokerage to Bitcoin and Ethereum

Standard Chartered acts as central counterparty for crypto spot execution alongside FX and metals on the Bermuda-regulated trading venue.

## At a glance

- **What happened:** 24X expanded its institutional partnership with Standard Chartered to offer Bitcoin and Ethereum trading through prime brokerage [1].
- **Why it matters:** Institutional trading counterparties can face Standard Chartered as central counterparty while executing OTC crypto trades via 24X [1].
- **Who is affected:** Institutional traders, Standard Chartered prime brokerage clients, and liquidity providers accessing 24X [1].
- **What's next:** No next step announced [1].
- **Status:** announced
- **Primary source:** [24X Expands Digital Assets Prime Brokerage Partnership with Standard Chartered](https://www.prnewswire.com/news-releases/24x-expands-digital-assets-prime-brokerage-partnership-with-standard-chartered-302934110.html) — PR Newswire

## Key points

- 24X added Bitcoin and Ethereum to its institutional prime brokerage partnership with Standard Chartered [1].
- Standard Chartered serves as the central counterparty, letting clients face the bank directly for OTC crypto liquidity [1].
- The launch follows initial spot crypto trades with Cumberland DRW and Wintermute acting as liquidity providers [1].

## Editorial remark

- **Context:** 24X established its multi-asset model by facilitating FX non-deliverable forwards and swaps, previously executing inaugural crypto spot trades with Standard Chartered, Cumberland DRW, and Wintermute [1].
- **Impact:** Institutional market participants can clear spot Bitcoin and Ethereum directly against a major global bank rather than managing multiple bilateral credit lines across crypto venues [1].
- **Watch:** Market adoption of 24X's central counterparty structure and any expansion of supported digital asset pairs beyond BTC and ETH [1].

Institutional trading venue 24X Bermuda Limited has expanded its prime brokerage partnership with Standard Chartered to include digital assets, enabling trading in $BTC and $ETH across its unified infrastructure [1]. Under the agreement, Standard Chartered serves as the central counterparty, allowing institutional participants to face the international bank while executing over-the-counter liquidity via 24X [1].

The platform operates on an execution-only basis, overseeing matching, liquidity configuration, and straight-through processing [1]. The digital asset integration follows initial spot cryptocurrency transactions on 24X where Standard Chartered acted as liquidity taker, with Cumberland DRW and Wintermute acting as liquidity providers [1]. The setup mirrors 24X's existing prime brokerage access for foreign exchange non-deliverable forwards, FX spot, deliverable and non-deliverable swaps, and metals [1]. At the time of writing, Bitcoin traded at $74,609 and Ethereum at $2,116.

## Multi-Asset Settlement Architecture

Through this operational structure, 24X becomes the first platform to combine foreign exchange and cryptocurrency trading using Standard Chartered as the single clearing counterparty [1]. 24X Bermuda operates under the regulatory supervision of the Bermuda Monetary Authority for its cryptocurrency activity, alongside its registration as an introducing broker with the U.S. Commodity Futures Trading Commission [1].

The rollout reflects how major institutions continue integrating digital assets into cross-margining and existing prime brokerage workflows, complementing broader cross-asset movements across the sector [1]. Institutional clients access the spot crypto instruments using the identical interface and straight-through processing channels already deployed for fiat currency pairs and precious metals [1].

## Sources

1. [24X Expands Digital Assets Prime Brokerage Partnership with Standard Chartered](https://www.prnewswire.com/news-releases/24x-expands-digital-assets-prime-brokerage-partnership-with-standard-chartered-302934110.html) — PR Newswire, 2026-11-10

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