Coinbase, the major US crypto platform, considers a launch of the service for wholesale OTC crypto trading, which will be mostly aimed at the institutional investors.
This wholesale trading will be destined to allow large players, including financial institutions and hedge funds, make huge transactions without affecting the market in general. At the same time, deals are to be made in the shadow and will not be registered in the main exchange order book, as the news report read. Moreover, the information about such transactions will be released with a delay.
It is reported that the American exchange is striving to boost its competitive position against other platforms providing OTC trading via such service.
Coinbase has been providing service to large Wall Street-based companies via GDAX back in 2014. Last year the platform also announced a launch of the new company – Coinbase Custody aimed at assisting institutional investors in storing digital assets.
Meanwhile, the platform launched by Winklevoss twins – Gemini – started offering large traders transactions with bitcoin and Ethereum blocks in mid-April.