Normal Chartered and Cumberland DRW Served as Counterparties for Inaugural Spot Crypto Trade
HAMILTON, Bermuda, Sept. 1, 2026 /PRNewswire/ — 24X Bermuda Limited (“24X“) at this time introduced that it has accomplished its first spot cryptocurrency commerce on its institutional-grade, multi-asset buying and selling platform, turning into one in all a choose few international venues that supply each crypto spot and FX buying and selling on a single, unified expertise infrastructure.
The inaugural crypto spot commerce was executed in Bitcoin (BTC) as a part of 24X’s current strategic partnership with Normal Chartered, a number one worldwide banking group and one of many world’s international systemically vital banks (G-SIBs). Normal Chartered acted as liquidity taker and Cumberland DRW served as liquidity supplier for this commerce. The transaction marks a major milestone in the continued growth of regulated, institutional-grade infrastructure for digital asset markets, demonstrating how established monetary establishments and specialist liquidity suppliers are serving to speed up the adoption of digital belongings by institutional traders.
24X CEO and Founder Dmitri Galinov stated, “Institutional demand for digital belongings has by no means been stronger, and at this time’s milestone crypto commerce demonstrates that the 24X platform is prepared for it. Our crypto buying and selling infrastructure delivers the deep liquidity, rigorous oversight, and the identical seamless workflow international monetary establishments have come to anticipate from 24X. We’re proud to have Normal Chartered and Cumberland DRW because the counterparties for this landmark transaction, and we sit up for quickly increasing our crypto spot providing as international markets proceed to converge round digital belongings.”
John Newman, Normal Chartered’s International Head of Charges & FX Buying and selling and Head of Markets UK & Europe, stated, “Institutional demand for digital belongings continues to develop because the market evolves and regulatory frameworks mature. Normal Chartered is dedicated to offering purchasers with safe, regulated and institutional-grade entry to digital asset markets. This profitable commerce highlights the energy of our international buying and selling capabilities, strong infrastructure and danger administration framework, whereas demonstrating how regulated banking establishments will help bridge conventional finance and the digital belongings ecosystem.”
“We’re proud to have served as liquidity supplier to Normal Chartered for this milestone Bitcoin commerce on 24X,” stated Chris Zuehlke, International Co-Head at Cumberland DRW. “For greater than a decade, Cumberland has helped construct institutional digital asset markets by offering deep, dependable liquidity backed by DRW’s 30-plus years of experience managing danger throughout international monetary markets. As institutional adoption accelerates, we stay targeted on delivering the execution high quality and market infrastructure that allow banks and different establishments to commerce digital belongings with confidence.”
24X Bermuda Restricted’s Cryptocurrency exercise is regulated by the Bermuda Financial Authority. 24X additionally affords Deliverable Swaps, Non-Deliverable Swaps, Metals and Spot merchandise to institutional clients in addition to NDFs. Since its launch in 2019, 24X’s multi-asset providing by means of a single buying and selling interface has enabled market members to entry elevated liquidity at decrease value.
About 24X
24X Bermuda Holdings LLC (“24 Trade”) is a privately held firm with two major working subsidiaries: 24X Bermuda Restricted, which permits seamless and cost-effective change of forex exposures; and 24X Nationwide Trade LLC, the primary nationwide securities change authorized by the SEC to function 23 hours every weekday. 24X’s mission is to allow cost-effective trades throughout a rising vary of asset courses across the clock. 24X lowers the price of exchanging belongings in the worldwide markets whereas delivering inventive and distinctive workflows catered to every asset class. Extra data is offered at https://24exchange.com/. 24X Nationwide Trade allows retail and institutional clients world wide to commerce in U.S. equities through broker-dealers who’re authorized members. Extra details about 24X Nationwide Trade is offered at https://equities.24exchange.com/home.
About Normal Chartered
We’re a number one worldwide banking group, with a presence in 54 of the world’s most dynamic markets. Our goal is to drive commerce and prosperity by means of our distinctive range, and our heritage and values are expressed in our model promise, right here for good. Normal Chartered PLC is listed on the London and Hong Kong inventory exchanges. For extra tales and professional opinions please go to Insights at sc.com. Comply with Normal Chartered on X (Opens in a new window), LinkedIn (Opens in a new window), Instagram (Opens in a new window) and Facebook (Opens in a new window).
Media Contact:
Eric Andrus, KARV
[email protected]
SOURCE 24 Trade
