"Big investors have crypto-appetite" – Huobi answers with OTC trading center | BTC-ECHO
Believing observers, one root of the ongoing Bitcoin bull run could be the crypto-pulling horse in the growing interest of institutional finance actors. The crypto-exchange Huobi also wants to have discovered this trend for itself and sets now their business on large investors.
Like the Singapore Stock Exchange giant this Wednesday, May 15, on his website The company now offers its major customers fully licensed over-the-counter trading (OTC) of cryptocurrencies. Gibraltar-based Huobi OTC Desk customers will now be able to exchange large volumes of bitcoin, ethers and other cryptocurrencies in pounds, euros, dollars and back.
Such a wholesale place should hit the nerve of the time and quench the "big appetite" of institutional investors. Because at present one sees an "unmet need for services for those, who would like to carry out extensive transactions", describes Jeff Adams, sales manager of the parent company Huobi Global, the advance of his enterprise.
However, many still do not feel comfortable venturing into unregulated trading (with cryptocurrency) (…). The Huobi OTC Desk is a big step forward to meet these two requirements,
so Adams next. This institutional restraint is now being countered with regulatory certainty. Bidding this financial supervision of the adopted home Gibraltar. Here, the stock exchange had received the official blessing for the crypto trade last year. Unlike the already established peer-to-peer trading offer from Huobi, the OTC Desk is now to act as an exchange partner itself. Previously, the company limited itself to connecting potential buyers and suppliers.
Huobi, Coinbase, Fidelity: Institutional interest in cryptocurrencies is growing
Meanwhile, the interest of old money in global financial centers against cryptocurrencies is growing. At the New York Consensus Fair, for example, the crypto-exchange Coinbase announced record numbers this week. In its custody business, the company currently plans to manage no less than $ 1 billion from over 70 institutions. Earlier this month, investment giant Fidelity announced it would open its business to Bitcoin & Co. trading. This would also respond to an increased interest from the ranks of established major customers.
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