Coinbase has Launched an Over the Counter (OTC) Trading Desk
Based on its relentless efforts to ensure that its institutional customers are served well, Coinbase has made it known that it has launched an Over The Counter (OTC) trading desk.
Coinbase Launch OTC
The exchange made it known that a high demand from Institutional investors and customers is what resulted in this latest development. The main function of the Trading desk is to bring about a more successful and easier transaction for the institutional clients of the exchange. For this to be achieved, there will be a form of marginalization between the over the counter desk and Coinbase’s Custody service. This will ensure that there’s enough security in storing the customer’s digital assets, and as such, it will increase the client’s confidence in the setup.
During an interview session, Christine Sandle, Coinbase’s Head of Sales further shed more light on the new trading Desk. She explained that once implemented, OTC desk will add more value to the exchanges’ platform and it is nothing to be scared off, as the method has been applied by many other firms and it’s safe. She also stated that: “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. We are agency only and we have plans to expand the service offering to offer things like delayed settlement and potentially integrating it with our custody solution as well.”
Based On Popular Demand
Considering the time at which this was launched, the head of sales further explained that the company is reacting to the demands from customers. She said, “the timing of the launch was opportunistic…we were just reacting to client demand.”
Apart from Coinbase, some other companies that offer an Over The Counter trading desk include Genesis, SFOX, itBit, Circle, Kenetuc Capital and lots more.
