The American exchange Bittrex has announced it is about to launch an OTC trading desk. The over the counter service is expected to go online today, January 14th, starting at 19:00 European time (6 pm UTC).
The new product is to give customers an opportunity to “quickly and conveniently trade assets.” The platform will have support for at least 200 digital assets, already present on the regular Bittrex exchange.
OTC trading desks facilitate direct transactions between two parties, unlike exchange trading where buy and sell orders are matched through an order-book.
In a statement, CEO Bill Shihara called the new offering a “game-changing trading option,” highlighting the number of tokens Bittrex intends to offer on the new platform. He further stated:
“With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance the adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.”
Bittrex joins other U.S.-based exchanges in launching OTC trading desks, including Coinbase and Poloniex.