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Major Crypto Exchanges Launch OTC Desks Despite the Crypto Winter

Published 12/02/2019, 03:56 am
Updated 12/02/2019, 07:28 pm
Major Crypto Exchanges Launch OTC Desks Despite the Crypto Winter
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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).

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