In 2018, the OTC platform for the purchase and sale of Bitcoin and other cryptocurrencies from the payment company Circle concluded transactions totaling $ 24 billion. This is stated in the blog Circle.
Our co-founders reflect on a transformative 2018 that included a global financial system. @Poloniex @centre_io @circleinvest @ResearchCircle @jerallaire https://t.co/1sATjRn0xf
– Circle (@circlepay) January 3, 2019
According to the company, last year, over 10,000 transactions were concluded on its OTC-platform Circle Trade with 36 different cryptoactive assets, with more than 600 users participating.
Circle Trade operates around the clock, serving customers from the US, Europe and Asia, and as the company says, it has become a "key liquidity provider for the entire cryptocurrency ecosystem." Her clients include venture capital firms, cryptocurrency funds, hedge funds, and family wealth managers around the world.
OTC-trading refers to over-the-counter trading carried out directly between customers and market makers – the seller and the buyer make a deal directly with each other without the participation of intermediaries in the face of exchanges. For a long time, OTC-trading was an important tool in the traditional financial market, but in 2018 it was widely used in the field of cryptocurrency.
At the end of last year, it was increasingly said that institutional investors are beginning to give preference to over-the-counter platforms. According to experts , large companies prefer over-the-counter instruments to conclude transactions, as they can agree in advance on the price and not worry about sharp fluctuations in the rate that their transactions may trigger. In addition, large buyers often go to over-the-counter platforms, since cryptocurrency exchanges are not able to offer them sufficient liquidity.
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