Leading Crypto Wallet Provider ‘Blockchain’ Launches OTC Trading Desk

Rafael Matsunaga / Flickr

Blockchain, a leading European cryptocurrency wallet provider, has reportedly launched its own over-the-counter (OTC) trading desk for digital assets.

According to a recent report, Blockchain has launched the trading desk in recent week in order to execute large trades off of major public crypto exchanges, such as Coinbase or Binance. Insiders familiar with the matter state that Vince Machi, former DRW fixed-income, will lead the new business unit.

The move comes as an apparent effort to expand its offerings for institutional clients, which already includes custody. The report indicates that Blockchain is actively looking to position itself with these clients prior to the next bull-run.

The reports of OTC trading desk come just weeks after it was revealed that¬†Jamie Selway, the former Head of Electronic Brokerage and Head of Execution Services at Investment Technology Group (ITG), would become Blockchain’s Global Head of Institutional Markets. Selway is currently driving the development of products to serve Blockchain’s institutional clients.

Blockchain’s wallet that has been downloaded more 28 million times with $200 billion transacted in total, making one of the most popular on the market.

More: Wallet provider Blockchain has launched an OTC trading desk
Similar:¬†Goldman Sachs CFO Calls Speculative Crypto Trading Desk Reports ‚ÄėFake News‚Äô
Photo: Rafael Matsunaga / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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