OTC Trading Desk For Institutional Crypto Investors Introduced By Huobi

Announcements, News | May 16, 2019 By:

Crypto exchange operator Huobi Group has introduced a fully regulated over-the-counter (OTC) trading desk for institutional investors.

Called Huobi OTC Desk, the platform is separate from the peer-to-peer (P2P) Huobi OTC platform and is targeted at high net worth individuals, high volume crypto traders and institutional investors. Regulated by the Gibraltar Financial Services Commission (FSC), Huobi OTC Desk enables major fiat-to-crypto and crypto-to-crypto trading pairs.

Accodring to Huobi, the new OTC platform is designed to accommodate high volume crypto traders, with a minimum size requirement of $100,000 or equivalent. The platform supports transactions made in US dollars (USD), British pound sterling (GBP), and euros (EUR) made for bitcoin (BTC), ethereum (ETH), and a range of other cryptocurrencies.

“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,” said Jeff Adams, Senior Sales Manager for Huobi Global. “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.”

Last month, Huobi OTC teamed with payment processing firm Simplex to allow its users to use their debit and credit cards to purchase bitcoin (BTC), ethereum (ETH), Litecoin (LTC) and Ripple (XRP) on the P2P exchange.

“Bridging the divide between the fiat and crypto is still a big problem for the community and this is one of the ways we are looking to solve it,” Ross Zhang, Head of Marketing for Huobi Group, said at the time. “Partnering with Simplex will allow us to significantly minimize the obstacles our customers face – something we are always interested in.”