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Coinbase starting over-the-counter crypto trading for institutional investors

Nov 29, 2018

On November 27 financial news network Cheddar announced that Coinbase, one of the biggest United States crypto exchange and wallet provider, has recently started over-the-counter (OTC) trading for institutional clients.

Unlike trading through a crypto exchange itself, over-the-counter crypto trading makes it possible for institutional investors to carry out direct trades between each other.

Head of sales at Coinbase, Christine Sandler, said that this action is taking place as a result of an increasing demand for OTC crypto trading from institutional traders, that view the possibility to offer both mentioned methods, OTC and exchange, as a “huge benefit” for their customers. Sandler noted:

“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.”

Coinbase is also granting its clients the possibility to trade any assets that are accessible on the institutional Coinbase platform, as well as initiating more order books options, including web interface, Skype, Bloomberg IB, email, or phone.

On June 6 of this year, Coinbase initiated the application process to become a fully regulated broker dealer in accordance with U.S. legislation. They have taken these measures in order to able to offer more crypto-related services such as OTC, margin, crypto trading, and new market data products.

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