Major global has launched a regulated over-the-counter () desk for institutional investors, according to a on May 15.
The new OTC crypto platform, Huobi OTC Desk, is fully regulated by the Financial Services Commission (FSC), and enables major -to-crypto and crypto-to-crypto pairs.
Unlike the existing Huobi’s OTC retail products, the new OTC desk enables a principal OTC process under Huobi Technology, Huobi’s regulated OTC entity in Gibraltar, while the existing OTC offering on otc.hbg.com enables peer-to-peer () tradings under Huobi Global, the firm .
Jeff Adams, Senior Sales Manager for Huobi Global, stated that the launch of Huobi OTC Desk was driven by demand from investors for large volume transactions, claiming that the company has seen an “unfilled need” for such services.
Speaking at a special Huobi meetup event in New York, Adams also stressed a surge of interest by traditional traders who “are still uncomfortable jumping into unregulated environments.”
According to the announcement, Huobi OTC Desk supports major such as () and ether (), as well as fiat currencies including the dollar (), euro (), and pound sterling (GBP).
The launch of Huobi’s regulated OTC Desk follows the firm’s of a Distributed Ledger Technology () license from the Gibraltar FSC in late 2018, which enabled the exchange to attract institutional investors.
Earlier this year, Huobi that its P2P OTC desk has become one of the most traded OTC platforms worldwide. The desk offers OTC transactions in , ether, (), major stablecoin tether (), Huobi (), as well as (), which was in March 2019.
OTC has seen increased popularity recently, with exchange that its OTC offering drove major profits for the exchange in Q1 2019.
Published at Wed, 15 May 2019 22:25:20 +0000