In a press release, one of the major financial services infrastructure company OTCXN has announced the launch of its OTC Block Trading platform for institutional clients. The platform will enable institutional trading of cryptocurrency.
Key Highlights of OTC Block Trading Platform
OTCXN is a San Francisco-based blockchain powered capital market firm, providing global liquidity services thus eliminating the need for intermediaries in trading.
As per the statement, its new platform aims to offer a multi-custodian solution and greater liquidity for institutional investors. It executes trading of large crypto-to-crypto and crypto-to-fiat, fiat-to-fiat transactions.
Very pleased to announce the launch of OTCXN's Block Trading venue! https://t.co/Ehv1s0UUG3 Institutional clients have begun OTC trading of Fiat and Crypto with no counterparty or settlement risk. Or initiator risk! #Crypto #Blockchain #Custody #FX #Cryptocurrencies
— OTCXN, Inc. (@OTCXN) November 13, 2018
OTC Block Trading is the latest innovation by OTCXN which has achieved after the prior testing to determine its effectiveness. This capital market has already singed US-regulated custodians’ kingdom Trust and Prime Trust to facilitate bring more users. Both Trusts are SEC-authorized which will offer custody services for trading venues, utilizing OTCXN technology. Moreover, it assists them in clearing and settlement of OTC block trades.
The cold storage wallet eliminates the risk of loss and the blockchain layer ensures transactions are transparent, cryptographic and unalterable.
Rosario M. Ingargiola, CEO, and Founder of OTCXN embrace
“We are extremely pleased to announce that our institutional clients are now trading with each other on our OTC Block Trading venue. Clients can now trade without risk to their counterparty and without waiting for settlement payments to hit their account or wallet. The immediate re-tradability of crypto assets with no public ledger transactions means more trading opportunities for our clients,”
OTCXN uses proprietary blockchain technology, real-time collateral management, asset digitization, and various trading venues to make it tradable using a single account at a custodian on the network. However, OTCXN is not the new entrant to provide custodian services, rather, Coinbase, Nomura Japanese financial holding, and SIX Group are also in a row already offering trading services to institutional clients.