CoinSpeaker
U.S. Crypto Exchange Bittrex Rolls Out OTC Trading Desk Supporting Nearly 200 Cryptos

It’s only the third week of the year but the companies have already actively started to inform the community about their new offerings, plans, and initiatives.

The previous year has proved the public interest toward over-the-counter trading services and U.S.-based cryptocurrency exchange Bittrex is going to offer them on its new OTC trading desk.

The OTC trading desk that will be operated by Bittrex is intended to offer approved clients an opportunity to trade assets in a convenient and quick manner.

According to the company’s announcement, the desk will provide support of approximately 200 digital currencies that are currently available on the exchange. As it has been revealed by Bittrex, major trades starting with an amount of $250,000 or higher will have guaranteed pricing on the OTC desk.

Bill Shihara, Bittrex CEO, noted that the new offering is a game-changing trading option, especially given the number of tokens that will be available for trading on the OTC desk.

The company’s statement reads:

“With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.”

In general, it’s worth mentioning that OTC trading desks can really revolutionize the sphere of crypto trading. When a user wants to trade digital assets on an exchange, buy and sell orders should be matched via an order-book and it obviously makes the whole procedure more complicated and time-consuming.

Nevertheless, OTC trading desks are aimed at facilitating the trading process while they allow direct transactions between two parties. Bittrex is not a pioneer in this sphere. Two other U.S.-based cryptocurrency exchanges, Coinbase and Poloniex, have already launched their OTC trading desks.

As CoinSpeaker has already reported, the OTC service launched by Coinbase targets institutional investors but the company insists that all its customers will have a possibility to feel the benefit from lower volatility.

Poloniex, a subsidiary of Circle, has also decided to launch its OTC service. Institutional investors can get access to the wide selection of crypto asset trading pairs, dedicated support, and robust API services.

But it’s still not the full list of companies that have launched their OTC platform. For example, last year digital asset management platform RightBTC also announced its OTC desk trading with no withdrawal limits and zero trading fees.

Among other highly-demanded offerings by Bittrex, we should mention a wide range of securities offerings. The list of offerings includes issuance advisory services, placement, trading, and custody and they are provided by Bittrex in cooperation with Rialto Trading, a next-generation Alternative Trading System (ATS).

A little bit less than half a year ago two companies launched a new digital currency securities trading platform.

U.S. Crypto Exchange Bittrex Rolls Out OTC Trading Desk Supporting Nearly 200 Cryptos

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