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The company behind leading exchange Bittrex will be the latest crypto trading firm to launch an over-the-counter service. The OTC trading desk will go live at 1800 UTC today.
The new Bittrex OTC service will offer an impressively high number of cryptocurrencies for trading - 200, according to the company.
In an official statement about the launch, CEO Bill Shihara called it "game-changing", as reported by CoinDesk: "With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets".
Over-the-counter services tend to facilitate the exchange of assets in larger quantities, with direct trading between two parties instead of an order book. With institutional investment being seen as an increasingly important factor for the growth of the crypto market, OTC trading could soon play a more central role in the space. Crypto exchange Poloniex launched its own OTC service last year, and Circle reported high levels of BTC being traded at its OTC desk .
Read more: Poloniex opens OTC and institutional trading; Circle's over the counter trading desk saw $24B worth of trades in 2018