Standard Chartered announced that its prime‑brokerage relationship with 24X will be expanded to include Bitcoin (BTC) and Ether (ETH). The change, disclosed on November 10, adds digital‑asset trading to the existing suite of foreign‑exchange products offered on 24X’s multi‑asset technology platform.
Integrated trading workflow for institutions
Under the model, institutional participants will retain Standard Chartered as their central counterparty while using 24X for order execution, matching, liquidity configuration and straight‑through processing. This separation means that credit and commercial relationships are managed by the bank, whereas the technology that matches trades is provided by 24X.
Scope of the expanded offering
The partnership previously covered FX, non‑deliverable forwards and spot services. The addition of BTC and ETH introduces two digital‑asset instruments, but the announcement does not extend coverage to other tokens, derivatives or jurisdictions.
Risk considerations
While a recognized bank as a central counterparty may simplify onboarding and credit arrangements, it does not eliminate the inherent volatility of Bitcoin, liquidity challenges, or potential infrastructure disruptions. Institutions will still need to assess exposure limits, settlement timing, custody solutions, collateral terms and procedures for market stress.
Next steps
The announcement does not disclose client trade volumes, fee structures or specific timelines for rollout. Adoption by eligible counterparties will determine the commercial impact of the combined trading and brokerage model.
