24 Exchange Completes First Cryptocurrency Trade

24 Exchange says it has completed its first physical cryptocurrency trade on its platform with Cumberland DRW and QCP Capital as the counterparties.

“We are thrilled to have put the Bermuda Digital Asset Business license to work so quickly for our institutional clients who are seeking a low-price option for trading cryptocurrency products,” says Dmitri Galinov, 24 Exchange CEO and founder. “We are very pleased with the market’s response to each new offering we add to our exchange, and look forward to further expanding our range of trading services in the future. While the company has grown quickly, we firmly believe that the best is yet to come as we continue to innovate and bring even more trade services to the global market at lower prices.”

Paul Kremsky, global head of business development and relationship management at Cumberland DRW, adds, “Cumberland is proud to be the endpoint of liquidity for trading desks around the globe, and we look forward to working with 24 Exchange and its institutional user base.”

Darius Sit, co-founder of QCP Capital, says, “As an institutional-focused trading firm, we welcome partners like 24 Exchange who elevate the digital asset trading space with great tech and infrastructure.”

24 Exchange is working towards offering NDF trading in bitcoin and Ethereum, this is expected to roll out in the coming months according to the firm.

Paul Millward, head of product at 24 Exchange, says, “Working with Cumberland DRW and QCP has enabled us to expand our services to physical crypto trading with proven counterparty providers.”