Binance Labs Investing in Compliant OTC Trading Platform Koi.trade

2018-11-23 02:38

Binance remains committed to its philosophy of becoming the best provider of crypto trading services in the market and the constant investments in the development of its platform attest to this. In a recent statement, the Binance Labs team announced that it made a 3M dollar investment in Koi Trading, an OTC trading platform operating in the United States.

Koi Trading is a firm headquartered in San Francisco, CA, focused on providing a compliant global option for P2P trading. The startup also offers assistance, research and compliance consulting work in order to adapt to the complex North American legal system.

Changpeng Zhao, CEO of the popular exchange, has manifested in several opportunities his interest for alternative trading modalities, among them decentralized exchanges and over the counter trading. Recently he mentioned that OTC trading could have a volume similar to trading in exchanges, so his interest in this market is highly justified.

Binance + Koi Trading: A Good Partnership To Boost Crypto Trading

Regarding Binance Labs’ decision to invest in Koi, Ella Zhang, Head of Binance Labs was quite optimistic about the results they expect to obtain, mentioning that there is a compatibility of philosophies between both parties:

“Koi Trading’s mission is to bridge fiat and cryptocurrencies in a compliant manner. This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of value exchange globally.”

For his part, Hao Chen, founder, and CEO of Koi Trading commented that Koi’s focus on providing a service adapted to the North American legal framework can be highly beneficial for a company like Binance, which has a strong presence in the Asian market and a strong vision of expansion into Western markets:

“Our team of experienced traders and sales personnel will join forces to tap into vast networks of counterparties in North America, Asia, and the EU, bridging the gap that divides the current OTC landscape …
With Koi’s robust AML program, extensive banking relations in the US, investment from Binance Labs, and strong trust amongst counterparties in the Greater China, we aim to be the market nexus that reduces trust and information asymmetry and improves cryptocurrency OTC deal close rate”.

The post Binance Labs Investing in Compliant OTC Trading Platform Koi.trade appeared first on Ethereum World News.

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