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Leading crypto exchange Huobi has further expanded its services. The trading platform is now offering OTC trading, aimed at meeting demand for cryptocurrencies from more traditional financial institutions.
In a blogpost, the exchange claims that Huobi OTC Desk is a "fully regulated service built on Huobi’s Gibraltar FSC-issued Distributed Ledger Technology (DLT) license". Gibraltar was one of the first jurisdictions to offer purpose-built regulatory frameworks for blockchain companies, intended to encourage innovation in the sector.
Very proud to announce the launch of Huobi #OTC Desk, a customized - and fully regulated - service for high volume traders. Built on our Gibraltar-issued DLT license, users can trade $USD, $GBP, and $EUR for $BTC, $ETH, + more!
— HuobiGlobal (@HuobiGlobal) May 15, 2019
More: https://t.co/hf9SFD5yO9#BTC #Bitcoin #ETH pic.twitter.com/BXIIbUP22O
Users of the OTC Desk will be able to trade a number of different cryptos, including Bitcoin (BTC), Ethereum (ETH), and many other tokens. It will also offer fiat-crypto pairs, with USD, EUR, GBP and other fiat currencies available.
According to Jeff Adams, Senior Sales Manager for Huobi Global, "We see a lot of appetite out there from players in more established financial markets when it comes to digital assets but many are still uncomfortable jumping into unregulated trading environments. We also see an unfilled need for services aimed at those looking to make large volume transactions. Huobi OTC Desk is a big step forward to filling both of those needs."