Major international crypto exchange Huobi has launched a regulated over-the-counter (OTC) trading desk for institutional investors, as per a blog post on May 15.
The new OTC crypto trading platform, Huobiotc table, is totally regulated by the promontory monetary Services Commission (FSC), and permits major fiat-to-crypto and crypto-to-crypto trading pairs.
Unlike the present Huobi’sotc retail products, the new unlisted trading table permits a principal unlisted trading method beneath Huobi Technology, Huobi’s regulated unlisted trading entity in promontory, whereas the present OTC offering on otc.hbg.com permits peer-to-peer (P2P) tradings beneath Huobi international, the firm processed.
Jeff Adams, Senior Sales Manager for Huobi international, explicit that the launch of Huobi unlisted table was driven by demand from investors for giant volume transactions, claiming that the corporate 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, HuobiOTC desk supports major cryptocurrencies like bitcoin (BTC) and ether (ETH), similarly as rescript currencies as well as the U. S. dollar (USD), euro (EUR), and quid sterling (GBP).
The launch of Huobi’s regulated otc desk follows the firm’s acquisition of a Distributed Ledger Technology (DLT) license from the promontory FSC in late 2018, that enabled the exchange to draw in institutional investors.
Earlier this year, Huobirumored that its P2P OTC table has become one among the foremost traded OTC platforms worldwide. The table offers OTC transactions in bitcoin, ether, eos (EOS), major stablecoin tether (USDT), Huobi Token (HT), similarly as ripple (XRP), that was listed in March 2019.
OTC mercantilism has seen inflated quality recently, with Binance exchange coverage that its OTC offering drove major profits for the exchange in Q1 2019.
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