Cryptocurrency

04/01/19 08:00 UTC-4

Circle: $ 24 billion over-the-counter trading in 2018

Circle: $ 24 billion over-the-counter trading
Circle: $ 24 billion over-the-counter trading

According to an official blog post on the Medium platform of January 3, the over-the-counter sales office (OTC) at the Circle, cryptocurrency financial company, had a provisional volume of $ 24 billion in 2018.

According to the statement, Circle has made 10,000 OTC transactions with 600 different clients, the volume of which amounted to 24 billion dollars. Thus, the company claims that it has become "the main supplier for the entire crypto-system".

According to Circle, the firm currently collaborates with more than 1,000 clients, such as stock-exchanges, tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
projects, over-the-counter companies, asset managers and other global funds.

Circle's management reports: "In the new year, we expect institutions to move using stable coins, greater regulatory clarity, and improvements and innovations in the basic crypto-infrastructure."

 

Investor transactions

OTC tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
allows investors to trade directly with each other, without relying on intermediary services such as a cryptocurrency exchange. OTC trading in digital assets is particularly interesting to institutional investors, who increasingly use over-the-counter platforms from firms such as Circle and Coinbase.

Institutional investors generally moved to Bitcoin (BTC) over-the-counter markets with higher liquidityLiquidity
– is a term that means the ability to sell any financial assets (below or above the market price). The term “liquidity” in Latin means “liquid”, “flowing”.Details
. Investments in over-the-counter funds similar to those offered by Coinbase, which launched over-the-counter trading for institutional clients in November 2018, are growing.

Coinbase outperformed the Bitcoin Investment Trust (GBTC) in over-the-counter markets in terms of BTC trading. Despite the fact that the volume of over-the-counter trading is reduced by over-the-counter investments, they are still significant.

MV Index Solutions, a subsidiary of VanEck, which develops, tracks and licenses MVIS indices, has also entered the over-the-counter market. In November 2018, MV Index Solutions released its Bitcoin index based on three main over-the-counter tables.

Editor: Yulia Krasnaya

See also: "In New York, a working group was created to study cryptocurrency and blockchain technology"

#Circle #over-the-counter trading #Coinbase #MV Index Solutions

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