U.S.-based cryptocurrency exchange Coinbase opened its over-the-counter (OTC) crypto trading desk earlier this month.
In an interview with news source Cheddar on Tuesday, Coinbase head of sales Christine Sandler said that the firm launched the OTC desk as a complement to its exchange business because institutions are using OTC as an “on-ramp for crypto trading”
In an OTC transaction, a trade takes place between two parties directly, unlike on an exchange where orders are matched between third-party buyers and sellers.
“We felt this was a huge benefit to our clients to actually leverage both our exchange and our OTC business,” Sandler said.
Currently, the OTC service is available for Coinbase Prime customers – that is, financial institutions looking to trade with business funds.
CD |
https://www.coindesk.com/coinbase-quietly-opened-its-otc-crypto-trading-desk-this-month
