Binance Launches OTC Desk
The world’s largest cryptocurrency exchange, Binance, has announced the official launch of its OTC trading desk.
An OTC (over-the-counter) trade, is performed within a dealer network, as opposed to on a centralized exchange. OTC trade prices are generally not disclosed to the public and typically agreed upon between two members within the dealer network behind closed doors.
Following in the footsteps of many other large cryptocurrency exchanges, including Bittrex and Poloniex, Binance’s OTC trading desk is aimed at individuals and institutions looking to perform trades greater than 20BTC ($71k USD at the time of writing).
With a larger number of institutional investors set to enter the cryptocurrency markets in 2019, OTC trading desks could play a pivotal role, allowing for higher volume trades and increased liquidity.
Friday, January 25, 2019