- Coinbase has launched their own OTC desk, this was done quietly by the exchange.
- The U.S. based cryptocurrency exchange continues its offering expansion.
Coinbase, the U.S. crypocurrency exchange, has launched its over-the-counter (OTC) crypto trading desk earlier this month, as news wires only just discovering. The head of coverage at Coinbase, Christine Sandler was speaking about the launch of its OTC desk.
Of note, an OTC transaction, is a trade that takes place between two parties directly, in comparison to on an exchange where orders are simply matched for the third-party buyers and sellers.
Christine Sandler commented on the launch of the Coinbase OTC desk:
“So we felt that this was a huge benefit to our clients, who can actually leverage both our exchange and our OTC business. So we’re agency only and we have plans to expand the service offering to offer things like delayed settlement and potentially integrating with our custody solution as well.”