Blockchain.com announces the launch of OTC Trading Desk
Earlier in the previous week, Blockchain.com, the popular cryptocurrency wallet provider, unveiled the launch of the counter (OTC) trading desk, in a bid to attract more institutional investors.
The company has already been offering custodial services specifically modified to meet the demands of clients such as asset managers and hedge funds. And through the introduction of OTC trading desk, blockchain.com will also be able to make large private crypto trades outside of public exchanges.
Quoting a familiar source, The Block, reported that Former DRW fixed-income trader, Vince Machi will be handling all operations of the new OTC desk.
This new introduction has come just days after the announcement of Jamie Selway, the former head of electronic brokerage and execution services at Investment Technology Group (ITG), spearheading responsibility for the institutional efforts of Blockchain.
Companies such as DRW and DV who are also involved in the same space have already provided OTC services, while also simultaneously going on to develop cryptocurrency exchanges such as Itbit and Kraken.
Blockchain.com has reportedly said that it has offered almost 28 million downloads of its wallet as part of its retail business.