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Bittrex to Launch OTC Trading Desk With 200 Cryptocurrencies

Distributed.com:

  • Bittrex adds ability to directly broker with users, according to private statement
  • New service will grant access to about 200 crypto assets for approved users
  • Bittrex will also guarantee prices for major trades

The cryptocurrency exchange Bittrex has launched an over-the-counter (OTC) trading desk, offering about 200 cryptocurrencies to users.

According to a media statement reported by Bitcoin Magazine, the new service provides “price certainty and a fast and easy way to trade large blocks of digital assets.” The desk will also guarantee prices for major trades, worth at least $250,000.

Many crypto exchanges allow buyers to match with sellers, playing an intermediary role, so an OTC desk is an important step toward an exchange’s rise to success. With such a service, the exchange is able to directly make sales to customers, instead of serving only as a middleman.

“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,” CEO Bill Shihara said in the statement.

There are currently only a handful of crypto exchanges that offer an OTC service at all, let alone one that does so on this scale.

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