Major global crypto exchange Huobi announces the launch of its regulated over-the-counter (OTC) trading desk for institutional investors via a blog post on May 15.
Dubbed as Huobi OTC Desk, the new OTC crypto trading platform is fully regulated by Gibraltar Financial Services Commission (FSC) and will enable major fiat-to-crypto and crypto-to-crypto trading pairs.
The firm further clarified, that Huobi OTC Desk, will allow a principal OTC trading process under Huobi Technology, Huobi’s regulated OTC trading entity in Gibraltar. Notably different from the existing Huobi’s OTC retail products offered on otc.hbg.com, as they enable peer-to-peer (P2P) tradings under Huobi Global,
Senior Sales Manager for Huobi Global, Jeff Adams elaborated at the launch that the Huobi OTC Desk was driven by demand from investors for large volume transactions. He went on to claim that the company has observed an “unfilled need” for such services.
Speaking at a special Huobi meetup event in New York, Adams also stressed that there is a surge of interest by traditional traders who “are still uncomfortable jumping into unregulated trading environments.”
As per the announcement, Huobi OTC Desk supports major cryptocurrencies such as bitcoin (BTC) and ether (ETH), as well as fiat currencies including the United States dollar (USD), euro (EUR), and British pound sterling (GBP).
The launch follows Huobi’s acquisition of a Distributed Ledger Technology (DLT) license from the Gibraltar FSC in late 2018. The acquisition allowed the exchange to attract institutional investors. Huobi reported early this year that its P2P OTC desk became one of the most traded OTC platforms worldwide.
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