Leading South Korean cryptocurrency exchange Bithumb follows major exchanges in opening an OTC trading desk.
Hong Kong-based entity Bithumb Global Limited owns the rights to the Ortus brand, which specializes in services for institutional investors. After completing Know-Your-Customer and Anti-Money Laundering inspections, institutional investors will be able to utilize Ortus services, including monitored funds transfers and access to an OTC trading desk.
OTC trading is an option for institutional investors looking to perform large-volume trades, as it allows them to conduct direct trades between each other as opposed to trading through a crypto exchange itself.
Back in November 2018, leading United States crypto exchange and wallet provider Coinbase launched its over-the-counter trading for institutional customers. Bittrex, also a U.S.-based exchange, revealed plans as well to launch an OTC trading desk in mid-January.
Bithumb is ranked first on CoinMarketCap by reported volume with around $1 billion in trading volume on the day, occupying a significantly lower spot by adjusted volumes, which exclude markets with no fees and transaction mining.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.