ranked has announced it had launched its over-the-counter () trading desks for larger transactions, according to a Jan. 23 .
The new tool, simply known as Binance OTC, offers services geared to users performing trades worth at least 20 BTC ($71,000).
“Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts,” officials explained in the post.
The move makes Binance the latest major cryptocurrency exchange to launch OTC services, hot on the heels of exchange last week.
In December, meanwhile, crypto finance firm revealed its extant OTC desk had payments worth around $24 billion in 2018.
At the time, news and research publication Diar further that an increasing number of major investors had begun to favor OTC over traditional trading methods.
“Institutional cryptocurrency trading on traditional exchanges have lost ground in volumes as bitcoin is being welcomed into major outfit portfolios this year, with more slated to come online in 2019,” the publication .
A Cointelegraph analysis has that OTC could play host to a battle among industry players to woo institutional funds this year.
Published at Thu, 24 Jan 2019 12:40:00 +0000
