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Kraken OTC platform is ready to be used
Kraken OTC platform is ready to be used
Crypto

Kraken OTC platform is ready to be used

By Marco Cavicchioli - 18 Sep 2018

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The official announcement comes via Twitter: the well-known Kraken exchange has launched an Over-The-Counter (OTC) trading platform for the execution of large trades.

It is a private and customized service for institutions and whales that allows the exchange of blocks of 100,000 USD, 100,000,000 EUR or 2,000 Bitcoin.

Kraken OTC platform will offer discreet, secure and, as they say, “ultra-competitive” order execution and settlement services.

In order to use the service, you must send an email to [email protected] with your request: a member of the Kraken team will respond to the email and open a communication line via the customer’s preferred messaging application.

The service supports 17 different cryptocurrencies and 3 fiat currencies:

Bitcoin (XBT), Ether (ETH), Bitcoin Cash (BCH), Ether Classic (ETC), Ripple (XRP), Lumens (XLM), EOS (EOS), Litecoin (LTC), Monero (XMR), Dash (DASH ), Zcash (ZEC), Melon (MLN), Augur (REP), Gnosis (GNO), Economy (ICN), Tether (USDT), Dogecoin (DOGE), as well as US Dollars (USD), Euro (EUR) and Japanese Yen (JPY).

The minimum order size is $100,000, but exceptions may be allowed on a case-by-case basis.

OTC transactions are carried out directly between a seller and a buyer, usually involving large amounts and are executed in a non-public manner and protected from prying eyes.

They do not occur through the usual trading platforms, but on other platforms that provide more discretion and less market manipulation.

In this case, Kraken will act as a mediator between the parties, and through its technological tools will organize the meeting between sellers and buyers, the negotiation of the price and the actual trade.

This yet another initiative that will provide large investors and institutions with the tools needed to operate in the crypto sector.

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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