The US crypto exchange Bittrex has announced a launch of an over-the-counter trading platform on Monday.
According to the media, the new service is designed to provide opportunities for effective and fast crypto trading. The OTC platform is said to be available for approved customers.
The company spokesperson commented that Bittrex OTC project will support some 200 digital coins with large transactions (over $250,000) to feature prices with warranty.
For reference, direct transactions are much easier to perform within OTC desks, since they allow for the direct transfer of assets between two parties, unlike stock trading, where purchases and sales have to be processed through an order-book.
The exchange CEO Bill Shihara sees this move as the creation of a great and breakthrough trading solution. Besides, Bill Shihara believes that their OTC trading platform will help Bittrex to keep developing and implementing the blockchain at a global scale as well as enabling users with a simple method to trade large crypto volumes.
Earlier Coinbase and Poloniex expressed intentions to launch similar OTC trading projects. In particular, Coinbase developed and put into operation Coinbase Prime platform that is said to be available for institutional clients, while Poloniex opened registration of institutional accounts with a minimum bid of $250,000. Notably, Poloniex offers limited trading pairs.