- OTCXN says its new platform will offer greater liquidity and multi-custodian solution for institutional investors trading large crypto-to-crypto and crypto-to-fiat
- OTCXN had earlier joined forces with two SEC regulated custodians, Kingdom Trust and Prime Trust to enable it to attract significant institutional clients
- CEO and founder Rosario M. Ingargiola says the excellent features of the platform will offer clients more trading opportunities.
OTC Exchange Network (OTCXN), a capital markets infrastructure firm that claims to use distributed ledger technology (DLT) to eliminate the need for intermediaries in trading, has announced the launch of its OTC Block Trading platform aimed at facilitating live block transactions on crypto and fiat pairs for institutional investors
OTCXN Block Trading Platform Now Live
In a bid to make it possible for institutional investors and high net worth individuals to execute live block transactions on a vast array of cryptocurrency and fiat pairs, OTCXN has launched its OTC Block Trading platform.
With the successful launch of the trading venue, OTCXN says institutional investors and crypto whales who carry out large fiat-to-crypto, crypto-to-crypto, and fiat-to-fiat transactions will now have access to more liquidity and multi-custodian solutions.
After successfully carrying out its first live test block trade of fiat and cryptos earlier in June 2018, in October, OTCXN joined forces with two SEC-regulated custodians, Prime Trust and Kingdom Trust to provide a robust custody, clearing and settlement of over-the-counter (OTC) block trades for trading venues that utilize its infrastructure.
Transforming the World of Crypto and FX
Founded in 2016 by electronic trading and FX technology professional, Rosario M. Ingargiola, who is also the founder of FXone, OTCXN uses the power of blockchain technology to create an innovative market model that improves liquidity access for the entire FX and cryptocurrency ecosystem.
Commenting on the latest development, the CEO and founder of OTCXN, expressed excitement over the launch of the platform, adding that institutional clients can now trade with each other on its OTC Block Trading platform without risks and limitations.
“Clients can now trade without risk to their counterparty and without waiting for settlement payments to hit their account or wallet. The instant re-tradability of digital assets without public ledger transactions means more trading opportunities for our clients,” he concluded.
Despite the current crash in the price of bitcoin and other cryptos, institutional investors are gaining more and more interest in the nascent asset class with each passing day.
In October, Blockchain Reporter reported that research findings by Bobby Cho, head of trading at the cryptocurrency trading department of DHW Holdings, had revealed that institutional investors are buying vast amounts of cryptocurrencies via private transactions.
