South Korean crypto exchange Bithumb announced the launch of its own over-the-counter platform, which will offer the services worldwide.
"Institutions trading digital assets need to open accounts at exchanges and OTC desks around the world; however, there is no real solution for an aggregated liquidity provider or a trusted interdealer where Institutions can trade these assets...," commented in the press release the platform's Director Rahul Khanna.
The new platform called Ortus is designed to provide institutional clients with block deal as well as matchmaking services. The new Bithumb branch will be based in Hong Kong, though it also has offices in the UK, Australia, Argentina and Japan.
According to the company press release, users will have to go through a rather complex registration process, which will involve AML and KYC procedures. Ortus supports transfers from US bank accounts and provides custody services. The details regarding the digital assets the platform will support were not disclosed.
''Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service,'' added Rahul Khanna.
Thus, Bithumb follows the general trend, as several more exchanges commissioned OTC platforms in past months in order to capitalize on higher interest from institutional clients. It was reported in mid-January that American exchange Bittrex rolled out an OTC platform with support of more than 200 digital assets in January.