- Circle reported more than 10,000 OTC trades in 2018.
- The firm signed more than 1,000 partners including exchanges and crypto project firms.
One of the leading over-the-counter (OTC) units has reported that its trades reached a total volume of $24 billion in 2018. The OTC trading desk belongs to the finance firm, Circle. The firm reported that it recorded 10,000 OTC trades that came from 600 participants.
According to Cointelegraph, the Circle is considering itself a leading contributor and a “core liquidity provider to the entire crypto ecosystem.” Circle has already partnered with over 1,000 institutional clients, some of them being exchanges, crypto projects, other OTC desk, asset management firm and global clients.
“This year, we anticipate further incremental growth in institutional adoption catalyzed by stablecoin usage, advancements in institutional custody solutions, increasing regulatory clarity particularly in the [United States], and improvements and innovation in core crypto infrastructure.”
Over-the-counter trading gives traders the ability to exchange without the interference of third parties. The service is attractive to institutional clients because of the privacy it accords them.
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