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Binance, the world’s leading crypto exchange, has officially launched its own crypto-to-crypto over-the-counter (OTC) trading desk this week.
Crypto OTC Made Better with #Binance.
What sets the Binance OTC trading desk apart? Click here to find out 👇https://t.co/73WwkxAX3Q … pic.twitter.com/c1rYLTObo9
— Binance (@binance) January 23, 2019
According to the announcement, the new OTC desk allows Binance users to trade larger amounts of 80 different cryptocurrencies currently listed on the exchange, with transactions completely settled within their Binance accounts.
Binance states that its OTC desk allows major investors to keep trades private as the order books will not be utilized. The new system also allows for direct settlements, reducing the need to handle different wallet addresses.
In order to participate, investors must have a level 2 Binance account and submit a trade order worth at least 20 BTC.
This news comes around a week after Binance launched a new platform, Binance Jersey (binance.je), with GBP and EUR trading pairs. The new exchange is available in 58 jurisdictions outside of the United States.
Binance’s exchange token, BNB, is currently trading flat on the day to $6.41, giving it a market cap of $840.8 million.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.