Since it got acquired by the Monex group, Japanese cryptocurrency exchange, Coincheck has been making some major disruptive and noteworthy moves. Recently, the exchange revealed that it has launched a Bitcoin (BTC) over-the-counter trading desk targeted at heavy pocket institutional investors.
Bitcoin (BTC) Over-the-Counter Trading Desk
The Coincheck OTC trading desk will reportedly allow users to trade huge volumes of bitcoin directly. Trading on the platform will start from 50 BTC. Anything below that will be done via the normal retail exchange platform.
Coincheck also made it known that the trading desk will have opening hours limited to weekdays 10:00-15:00 (JST) and overtime trading.
Also, traders planning to use the OTC desk won’t be able to do so over the official Coincheck app. Also, API trading is not an option.
The exchange made it clear that its latest offering will make it possible for large-scale institutional traders and investors to buy and sell large amounts of crypto quickly. The exchange also hinted that it…