The major crypto trading platform – Coinbase – plans to set up an OTC business seeing strong demand from institutional investors.
As the head of sales at Coinbase Christine Sandler said during the interview with Cheddar, the new business division is believed to be a good supplement to their main business.
“We launched our OTC business as a complement to our exchange business because we found a lot of institutions were using OTC as an on-ramp for crypto trading,” she noted.
Besides, Coinbase is said to consider service expansion with plans to add deferred payments and even possible integration of Coinbase Custody service into the new OTC platform. The custodial business is mainly designed for hedge funds, exchanges, ICO companies and other large market players.
During the interview, it was also highlighted that similar services have been already offered by other exchanges, in particular, Circle and Genesis.
Thus, Coinbase has everything to correspond to the requirements of the clients, and with OTC platform the company is striving to sideline above-mentioned rivals which acquired such business earlier this year.
Commenting on the observed market volatility, Christine Sandler said that the advantage that such instability can bring is that it helps crypto market regain its popularity, as new reports about the segment are being posted every day within the past few weeks.