Huobi Group, the parent company of Huobi cryptocurrency exchange has launched a fully regulated crypto-to-crypto and fiat-to-crypto over-the-counter (OTC) trading desk in Gibraltar, specifically for institutional investors and high-volume traders, according to a blog post on May 15, 2019.
Huobi making life Easier for Institutional Investors
As stated in its blog post, in a bid to make it easier for high net worth individuals, institutional investors as well as others to execute high volume cryptocurrency trades, Huobi has launched its crypto-to-crypto and fiat-to-crypto over-the-counter (OTC) trading desk in bitcoin-friendly Gibraltar.
Reportedly licensed by the Gibraltar Financial Services Commission (FSC), the Huobi OTC Desk is a fully regulated platform offering users OTC services in US dollars (USD), British pound sterling (GBP), and euros (EUR) for bitcoin (BTC), ether (ETH) and other cryptoassets.
Bridging the Gap
Commenting on the new OTC service, Jeff Adams, Senior Sales Manager at Huobi Global, noted that the firm sees a huge demand for OTC trading from institutional investors, however, most traders are wary to join the bandwagon due to the seemingly unregulated nature of numerous platforms, but Huobi has now solved that problem.
“We see a lot of appetite out there from players in more established traditional financial markets when it comes to digital assets but many are still reluctant to jump into unregulated environments. We also see an unmet need for services aimed at those looking to carry out large volume transactions. Huobi OTC Desk is a big step forward to filling both of those needs.”
For the uninitiated, OTC trading is the kind of trading done directly between two parties without the supervision of an exchange.