{"id":109047,"date":"2021-01-21T14:17:27","date_gmt":"2021-01-21T14:17:27","guid":{"rendered":"https:\/\/precoinnews.com\/?p=109047"},"modified":"2021-01-21T14:17:27","modified_gmt":"2021-01-21T14:17:27","slug":"blockfi-launches-crypto-otc-desk-for-asian-and-american-traders","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/blockfi-launches-crypto-otc-desk-for-asian-and-american-traders\/","title":{"rendered":"BlockFi Launches Crypto OTC Desk for Asian and American Traders"},"content":{"rendered":"

BlockFi, a US-based crypto lending platform, announced on late Wednesday the launch of an over-the-counter (OTC) trading desk that will serve institutions and ultra-high-net-worth clients.<\/span><\/p>\n

The trading services on the OTC desk will be available around the clock and will primarily target traders in the United States and Asia, two of the most active regions with crypto.\u00a0<\/span><\/p>\n

The desk will act as an execution partner and will offer spot trading, credit capabilities and margin trading products. It will support trading with only three major cryptocurrencies: Bitcoin, Ether and Litecoin.<\/span><\/p>\n

Commenting on the new service, BlockFi Co-founder and CEO, Zac Prince, said: \u201cExisting institutional clients are already using many of these BlockFi services independently, and have noted the benefits of having a one-stop destination for their digital asset trading and financing needs.\u201d<\/span><\/p>\n

Indeed, the demand for executing large crypto trades increased with the recently growing institutional demand. Microstrategy, a business intelligence firm, made headlines after buying hundreds of billions of Bitcoins followed by many established companies, including MassMutual, one of the leading American mutual life insurance companies.<\/span><\/p>\n

\u201cWith institutional interest in digital assets growing rapidly, we\u2019re proud to offer a specialized product to meet their needs and help them participate in an exciting and growing asset class,\u201d Prince added.<\/span><\/p>\n

Making of a Crypto Conglomerate?<\/span><\/h2>\n

BlockFi launched its service in March 2019, offering loans to those interested in borrowing crypto, starting from $2,000, and up to as much as $100 million, against bitcoin, Ethereum and stablecoins.<\/span><\/p>\n

Additionally, it offers crypto interest-bearing accounts, offering interests in the crypto deposits of its clients and retail trading services as well. The company is now planning to expand its retail services in many European countries.<\/span><\/p>\n

\u201cSophisticated investors are accustomed to full-service OTC capabilities and responsiveness, which are critical to success in a global, round-the-clock market such as digital assets,\u201d David Olsson, BlockFi\u2019s Head of institutional distribution, said.<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BlockFi, a US-based crypto lending platform, announced<\/p>\n","protected":false},"author":3,"featured_media":109046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBlockFi Launches Crypto OTC Desk for Asian and American Traders - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/blockfi-launches-crypto-otc-desk-for-asian-and-american-traders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlockFi Launches Crypto OTC Desk for Asian and American Traders - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"BlockFi, a US-based crypto lending platform, announced\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/blockfi-launches-crypto-otc-desk-for-asian-and-american-traders\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-21T14:17:27+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotoOver-the-Counter-Bitcoin.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/blockfi-launches-crypto-otc-desk-for-asian-and-american-traders\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/blockfi-launches-crypto-otc-desk-for-asian-and-american-traders\/\",\"name\":\"BlockFi Launches Crypto OTC Desk for Asian and American Traders - 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