Major US-based cryptocurrency exchange Bittrex is becoming the latest exchange to launch an over-the-counter (OTC) trading desk, according to several media sources such as Coindesk and Cointelegraph.
Targeted to begin Jan 14, this new service allows its clients to more quickly and easily trade large volumes of 200 different crypto currently available on the Bittrex trading platform. “Guaranteed pricing” is promised for tranches beginning at $250,000 in value or more.
Apart from the being able to trade big volumes faster, OTC trading has also become increasingly popular for institutional investors because it conducts trades by facilitating transactions directly between parties, as opposed to going through an order book in conventional crypto exchange trading.
In a public statement, Bittrex CEO Bill Shihara said its OTC service will “further advance the adoption of blockchain technology worldwide”.
Bittrex is the latest crypto exchange to venture into OTC trading, following the likes of Bitfinex, Coinbase, and Poloniex which have similar services.