Bittrex adds OTC trading desk with 200 alt coins

One of the top cryptocurrency exchanges in the world, Bittrex, has recently rolled out an OTC trading desk with 200 cryptocurrencies. This means that the execution of block transactions will be possible for various fiat/crypto pairs.

The cryptocurrencies that will be supported with the new service are all offered by Bittrex. According to the exchange, the desk will equip some specific trades (in the range of $250,000 and above) with “guaranteed pricing” level. The CEO of Bittrex said that the OTC desk will only be for their approved clients.

As opposed to exchange trading, where an order-book determines the matching of buys and sells, the OTC desk facilitates transactions between two parties.

The service will go live on Monday, 21stof January, 18:00 UTC time. Bittrex’s CEO also commented that since the exchange has one of the most extensive selection of digital assets as compared to any of the top OTC desks, the new service will further solidify the position of the US exchange in the blockchain and technology space.

Bittrex will earn commission fees by executing the customers’ trades. The settlement of funds will be executed within a 48-hour window.

Bittrex, with the new OTC trading desk, is now in competition with other cryptocurrency exchanges such as Coinbase, Circle, Gemini and Poloniex. The OTC business “line” complements nicely the exchanges’ core services and is a good additional revenue sources.

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