{"id":132942,"date":"2021-07-21T11:04:42","date_gmt":"2021-07-21T11:04:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132942"},"modified":"2021-07-21T11:04:42","modified_gmt":"2021-07-21T11:04:42","slug":"24-exchange-gains-crypto-trading-license-in-bermuda","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/24-exchange-gains-crypto-trading-license-in-bermuda\/","title":{"rendered":"24 Exchange Gains Crypto Trading License in Bermuda"},"content":{"rendered":"

24 Exchange, Dmitri Galinov\u2019s over-the-counter (OTC) platform, has secured a \u2018Class T\u2019 Digital Asset Business license from the Bermuda Monetary Authority (BMA) and is now planning to open cryptocurrency trading services for institutions.<\/span><\/p>\n

Announced on Tuesday, the license was given under the Bermuda Digital Asset Business Act 2018 and is the first such permission given to any company.<\/span><\/p>\n

\u201cThis is the first license of its kind to be issued in Bermuda and we look forward to having these innovative digital pioneers blazing new trails in our jurisdiction,\u201d Premier of Bermuda, David Burt, said.<\/span><\/p>\n

Expanding Services for Institutions<\/span><\/h2>\n

24 Exchange was established in 2019. The platform is known for offering FX NDFs and also launched an anonymous interbank FX Swaps order book with streaming quotes earlier this year.<\/span><\/p>\n

With the newly gained license, the company is considering launching physical cryptocurrency trading to its institutional clients later this summer. Furthermore, it will also facilitate crypto trading with Bitcoin and Ethereum NDFs.<\/span><\/p>\n

24 Exchange is already a popular platform among institutions. According to the company, it has onboarded more than 45 large institutional clients. With the growing demand for its products, the company strengthened its team with a few key hires.<\/span><\/p>\n

For its crypto trading services, 24 Exchange is claiming that it will deliver matching engine performance at 75 microseconds round trip time. It further detailed that its matching technology is located in the data centers in New York (NY4) and London (LD4).<\/span><\/p>\n

\u201cThis BMA license enables us to reliably bring low-cost institutional-grade technology to clients who wish to trade cryptocurrency products,\u201d Galinov said in a statement.<\/span><\/p>\n

\u201cWe intend to expand our platform’s trading capability in the future to encompass all the other assets on our exchange \u2013 all at best available rates. 24 Exchange’s unique NDF offering will significantly facilitate the institutional adoption of crypto products across the globe.\u201d<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

24 Exchange, Dmitri Galinov\u2019s over-the-counter (OTC) platform,<\/p>\n","protected":false},"author":3,"featured_media":132941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n24 Exchange Gains Crypto Trading License in Bermuda - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/24-exchange-gains-crypto-trading-license-in-bermuda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"24 Exchange Gains Crypto Trading License in Bermuda - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"24 Exchange, Dmitri Galinov\u2019s over-the-counter (OTC) platform,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/24-exchange-gains-crypto-trading-license-in-bermuda\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-21T11:04:42+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/24-Exchange-Gains-Crypto-Trading-License-in-Bermuda.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/24-exchange-gains-crypto-trading-license-in-bermuda\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/24-exchange-gains-crypto-trading-license-in-bermuda\/\",\"name\":\"24 Exchange Gains Crypto Trading License in Bermuda - 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