Bittrex Launches OTC Platform Supporting Nearly 200 Cryptocurrencies
American cryptocurrency exchange Bittrex is launching an OTC trading platform this Monday, CoinDesk writes.
The new service will allow a limited number of customers to “quickly and conveniently trade digital assets” and will support about 200 cryptocurrencies that are already listed on the exchange itself. The OTC platform will provide “guaranteed pricing” for large trades, “typically $ 250,000 or more”.
The service will allow for the direct transfer of assets between two parties to the transaction, in contrast to exchange trading, where buy and sell orders are processed through a centralized order book.
Bittrex CEO Bill Shikhara called the new platform a “revolutionary trading opportunity”, pointing to the number of tokens supported by his exchange, adding: “Bittrex has one of the broadest digital asset sets of any OTC platform and intends to use it to further spread blockchain technology. on a global level, while at the same time providing its clients with certainty about the price, as well as a quick and easy way to exchange large volumes of digital assets “.
Earlier, the American exchanges Coinbase and Poloniex made similar initiatives. Coinbase’s OTC service is available to institutional customers through the Coinbase Prime platform. Poloniex also admits a limited number of clients to OTC trading and uses a minimum order limit of $ 250,000.
In October, Bittrex announced the opening of an international crypto exchange with accelerated token listing.
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