Binance Follows Major Cryptocurrency Exchanges With Launch of OTC Trading Desk
The latest feature caters to traders looking to transact funds with a value of at least 20 BTC at a time.
The new tool, simply known as Binance OTC, offers services geared to users performing trades worth at least 20 BTC ($71,000).
“Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts,” officials explained in the post.
“Institutional cryptocurrency trading on traditional exchanges have lost ground in volumes as Bitcoin is being welcomed into major outfit portfolios this year, with more slated to come online in 2019,” the publication summarized.
A Cointelegraph analysis has found that OTC could play host to a battle among industry players to woo institutional funds this year.