On Tuesday, November 10, Standard Chartered expanded its crypto prime brokerage services to Bitcoin and Ethereum through 24X, the Bermuda-based trading platform announced. The bank now acts as central counterparty for cryptocurrency trades, meaning institutional clients take credit exposure to Standard Chartered rather than to market makers filling orders.

24X becomes the first trading platform to simultaneously offer both crypto and foreign exchange products with Standard Chartered as central counterparty. Under the structure, counterparties face only Standard Chartered while accessing over-the-counter liquidity, with 24X handling execution, liquidity configuration, matching and settlement. The arrangement follows spot cryptocurrency trades that settled on the platform in September and October.

View Source

Disclaimer: This content is for informational purposes only and does not constitute investment advice or encourage the buying or selling of crypto assets. It is intended to provide information about industry developments and is not directly related to the services offered by Gate TR. Although information obtained from third-party sources has been carefully reviewed, Gate TR assumes no responsibility for any errors or omissions. Crypto assets involve high risks and may experience significant price fluctuations. Before making any investment decisions, you should assess your financial situation and risk tolerance, conduct your own research, and make decisions independently.