Crypto Trading Desk Koi Trading Secures $3M USD Investment From Binance Labsbr>
Based in San Francisco with satellite offices in Hong Kong and Europe, Koi Trading offers a compliant OTC pathway for institutions and high net-worth individuals to engage with cryptocurrency. The company is not an exchange and does not require custody of their counterparties’ funds. It trades with counterparties as a principal using its own funds and endeavor to rely on post-trade net settlements. The platform allows users to trade 24/7 through a variety of communication channels, including its API, web portal and IM channels.
Hao Chen, CEO of Koi Trading, said that with Koi’s robust anti money laundering (AML) program, extensive banking relations in the US, investment from Binance Labs, and strong trust among counterparties in the Greater China, they will aim to be the market nexus that reduces trust and information asymmetry and improves cryptocurrency OTC deal close rate.
“Our team of experienced traders and sales personnel will join forces to tap into vast networks of counterparties in North America, Asia and the EU, bridging the gap that divides the current OTC landscape,” Chen said.
Binance Labs, which in the past couple of weeks has invested in a number of blockchain startups including Cred, Republic, Oasis Labs, Terra, MobileCoin, and Certik, said that they invested in Koi because they share the same mission of bridging fiat and cryptocurrencies in a compliant manner.
“This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of value exchange globally,” said Ella Zhang, Head of Binance Labs.