Major global crypto exchange Huobi has launched a regulated over-the-counter trading desk for institutional investors, according to a blog post on May 15.The new OTC crypto trading platform, Huobi OTC Desk, is fully regulated by the Gibraltar Financial Services Commission, and enables major fiat-to-crypto and crypto-to-crypto trading pairs.
Unlike the existing Huobi's OTC retail products, the new OTC trading desk enables a principal OTC trading process under Huobi Technology, Huobi's regulated OTC trading entity in Gibraltar, while the existing OTC offering on otc.
Hbg.com enables peer-to-peer tradings under Huobi Global, the firm clarified.
Jeff Adams, Senior Sales Manager for Huobi Global, stated that the launch of Huobi OTC Desk was driven by demand from investors for large volume transactions, claiming that the company has seen an "Unfilled need" for such services.
Speaking at a special Huobi meetup event in New York, Adams also stressed a surge of interest by traditional traders who "Are still uncomfortable jumping into unregulated trading environments."
According to the announcement, Huobi OTC Desk supports major cryptocurrencies such as bitcoin and ether, as well as fiat currencies including the United States dollar, euro, and British pound sterling.
The launch of Huobi's regulated OTC Desk follows the firm's acquisition of a Distributed Ledger Technology license from the Gibraltar FSC in late 2018, which enabled the exchange to attract institutional investors.
Earlier this year, Huobi reported that its P2P OTC desk has become one of the most traded OTC platforms worldwide.
The desk offers OTC transactions in bitcoin, ether, eos, major stablecoin tether, Huobi Token, as well as ripple, which was listed in March 2019.OTC trading has seen increased popularity recently, with Binance exchange reporting that its OTC offering drove major profits for the exchange in Q1 2019.
Huobi Launches OTC Desk for Institutional Investors
Published on May 15, 2019
by Cointele | Published on Coinage
OKEx says Bitcoin's latest struggles shouldn't worry investors
While Bitcoin's drop below $8,000 caused a stir in the market, OKEx says the downfall will most likely be short-lived.
Telegram Writes Investors to Counter FUD Before Feb. SEC Hearings
In a letter to investors, Telegram encouraged investors to view the United States Securities and Exchange Commission hearing recently rescheduled for February as "a positive step."
Crypto News From the German-Speaking World: Oct. 13-19 in Review
The German-speaking world has seen another week of events in the crypto industry, with a new survey revealing that 27% of Germans are interested in using Facebook's planned Libra stablecoin, which has been discussed all over the world since its announcement in June 2019.
How Can EEA's Reward Token System Help Banks Motivate Their Employees?
Enterprise Ethereum Alliance created a token system to encourage the active contribution of member organizations and their employees to the consortium, as reported by Cointelegraph on Oct. 8.