Institutional investment is increasingly being seen as the future of crypto trading, with both Binance and Bittrex launching their own dedicated over-the-counter (OTC) desks in January. The desk launches come after Morgan Stanley (NYSE:MS) published a bullish report in November, showing a strong pattern of institutional investment for Bitcoin. The latest developments indicate that some of the world’s largest exchanges are receiving increased demand from institutional investors, for whom OTC represents a lucrative opportunity. Cointelegraph takes a look at the latest launches and OTC news.
Binance launches dedicated OTC deskOn Jan. 23, the number-one ranked cryptocurrency exchange Binance announced the launch of its over-the-counter (OTC) trading desk in a blog post on its website. This new service, known as Binance OTC, will allow service users to carry out transactions larger than the equivalent of 20 BTC ($69,552).