On April 1, Coincheck (Japan) reported that it will launch the OTC platform for large transactions. The new service allows you to quickly work with large amounts of cryptocurrency. Orders are registered from 50 Bitcoins.
Coincheck, the Japanese exchanger, will launch an over-the-counter 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 platform for large investments. The platform involves instant large deals with intermediaries (market makers). At the same time, the new OTC will not be tied to the main platform and will not support work with the Coincheck application and the trading API service.
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OTC Trading at Coincheck
On April 1, an official announcement about the launch of a new platform for large OTC trading appeared on the official Coincheck blog. According to the information, the stock-exchange opens large trades supported by market makers with minimum orders of 50 Bitcoins. The innovation was announced two months after the cryptocurrency exchanger received a license from the country's financial regulators.
"We are pleased to announce that Coincheck (WEB) has launched a large-scale OTC trading service for large customers."
Among the main positive aspects of the new platform, Coincheck indicated “the ability to quickly trade large amounts of virtual currency at the same time,” as well as “attractive” prices for marketing a large number of crypto. The exchange also indicated BTC as a “target cryptocurrency”.
Regarding transactions, Coincheck representatives said that large-scale over-the-counter trading will be available on weekdays from 10:00 to 15:00. In addition, it was reported that the crypto transfers will be implemented with the support of the Coincheck service (WEB).
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The Japanese Exchange will launch an OTC trading platform with a minimum threshold of 50 BTC. Recall that over-the-counter trading has become a popular innovation for other cryptocurrency platforms. For example, Genesis increased its OTC trading by 50%, and Binance released the OTC tool for off-site transactions. In addition, Bithumb opened the Ortus OTC center in Hong Kong.
Editor: Godfrid Brower