South Korean Bithumb is the latest crypto exchange to announce the launching of an over-the-counter (OTC) trading desk for digital assets. It is joining peers like Binance, Coinbase, Bittrex and Poloniex by offering this new service to institutional clients.
An OTC trading desk facilitates direct transactions between parties.
Bithumb shared the news yesterday and mentioned that its new offering, Ortus emerges as a “block deal, matchmaking service” — offering insured custody and transfers, among other services. It has offices in the UK, Hong Kong, Japan, Australia and Argentina.
“Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service,” — Commented Rahul Khanna, Bithumb’s director.
Ortus users will have to face rigorous registration processes, namely Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, to access the service.
Bithumb did not share yet which cryptocurrencies will be offered for OTC trades.
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