OTC desk launched in spite of crypto winters

The significant exchanges Biniance and Bitrex have launched their OTC desk in January this year. The idea behind the launch is the increasing number of institutional investors. According to a study done by Morgan and Stanley, the number of institutional investors will increase in the long run.

According to a report published recently, the major exchanges are experiencing increasing demand from the institutional investors, for them, OTC is a lucrative opportunity. The Bittrex CEO has said that the launch of OTC is because of the request from the customer base. This platform will provide the customer to trader faster the larger blocks of digital assets with the certainty of price. This technological offering by the companies will give them the chance to adopt the blockchain technology in a new way.

The customer of Bittrex will get a chance to trade the same 200 digital assets presently available with the exchange. It is mandatory for the customer to trade a minimal of $250,000.
Biniance, on the other hand, has started its OTC service from 23rd of January this year and it will allow its customer to trade larger than or equivalent to 20 BTC. The exchange has a hope to draw a larger base of a potential customer by offering them to trade large quantities of different cryptocurrencies.

In 2018 Circle has also launched their OTC desk known as Circle Trade. They have grown considerably, and presently they have about 1000 institutional customers from around the globe.

Coinbase has also launched its OTC trading platform. In January this year, they have announced that their prime customers from the US and Europe will get a chance to trade on their OTC desk. The OTC of Coinbase offers a larger volume of trade with less price slippage. According to the sales head of Coinbase, they have launched their OTC service as a compliment to their exchange business as they feel that a large portion of institutional investors is using this as an opportunity for digital trading.

Polonix and Huobi have also started their OTC business. None of these companies have faced any downturn in spite of so-called “crypto winters” and negative reports of JP Morgan about the decline in the number of institutional investors.

The circle of OTC service has grown considerably over the time of one year, and many customers from different portions of the world are using it.