The American exchange Bittrex has announced it is about to launch an OTC trading desk. The over the counter service is expected to go online today, January 14th, starting at 19:00 European time (6 pm UTC).
The new OTC service will support 200 cryptocurrencies already present on the regular Bittrex exchange, guaranteeing prices for large trades, “typically $250,000 or greater“.
Like all OTC trading desks, this will facilitate large transactions without using the public market so as not to affect prices.
CEO Bill Shihara explained that this will be “game-changing trading option“, pointing out the number of tokens that Bittrex intends to offer on the new OTC platform.
“With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.“
Coinbase and Poloniex also recently announced the launch of their own OTC trading desks. This type of service is increasingly attracting attention, especially after Circle declared it traded $24 billion in 2018.