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News reaching Ethereum World News indicates that Coinbase's popular cryptocurrency market is launching an OTC (Over The Counter) trading desk to meet the needs of its institutional clients. according to Cheddar – a mainstream news media – the need to open the new OTC window was the result of demand from its institutional investors / clients. The OTC counter will eventually be integrated with the Coinbase Depository service to securely store customers' digital badets.
Coinbase shared the news from the OTC counter via an interview with Christine Sandle, Sales Manager at Coinbase, who explained what was the reason why they felt it necessary to open an OTC counter:
We launched our OTC activity in addition to our stock market activity, as we found that many institutions used OTC as a gateway for crypto trading.
We therefore felt that it was a huge advantage for our clients to benefit from both our trading and OTC activities.
We are only agencies and we plan to expand the service offering to offer solutions such as late payment and eventually integrate it into our preservation solution.
Regarding the timing of the launch, she added that Coinbase was only reacting to customer requests.
The timing of the launch was opportunistic … we only reacted to customer demand.
Coinbase joins a list of other companies offering OTC services such as Circle, ItBit, Kenetic Capital, Genesis Trading, SFOX and more.
What do you think of Coinbase launching an over-the-counter trading desk for its institutional investors? Please let us know in the comment section below.
Warning: This article is not meant to give financial advice. Any additional opinion in this document is purely that of the author and does not represent the opinion of Ethereum World News nor any of its other authors. Please do your own research before investing in one of the many crypto-currencies available. Thank you.
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