Japanese Crypto Exchange Coincheck’s OTC Trading Desk Adds Support For Ethereum And XRPbr>
Japanese cryptocurrency exchange Coincheck has added ethereum and Ripple’s XRP to its recently launched over-the-counter (OTC) trading desk for institutional investors.
The OTC trading desk, which was launched earlier this month with bitcoin support, allows large investors to quickly trade large amounts of cryptocurrency at once and at “attractive prices.” The platform operates on weekdays from 10:00 to 15:00 (Japan time), conducted on Coincheck service (WEB), with 50 BTC ($207,000) set as a minimum buy-in.
In a blog post, Coincheck said that its OTC platform now offers ETH and XRP, the second and third largest cryptocurrencies by market capitalization, respectively.
“We are pleased to announce that ETH and XRP have been newly added as target currencies at the Large OTC Trading Service, which has started on April 1, 2019,” Coincheck said.
For ETH, the minimum over-the-counter trade is set at 500 ETH, worth about $82,500. With XRP, the minimum is currently set at 250,000 XRP, worth about $81,600.