The over-the-counter (OTC) trading desk of Circle posted a whopping national volume of $24 billion in 2018, according to an official post on Medium.
The statement indicated that Circle processed 10,000 OTC trades with 600 various counterparties, at $24 billion in volume. The company asserted that it has become a “core liquidity provider to the entire crypto ecosystem.”
Circle also remarked that the company collaborates with more than 1,000 institutional clients the likes of exchanges, token projects, OTC desks, asset managers, and other global endowments.
Circle’s statement read:
“This year, we anticipate further incremental growth in institutional adoption catalyzed by stablecoin usage, advancements in institutional custody solutions, increasing regulatory clarity particularly in the [United States], and improvements and innovation in core crypto infrastructure.”
OTC trading lets investors conduct straight trades with one another without having to lean on the services of an intermediary such as a crypto exchange. OTC trading services in digital assets particularly enticing to institutional investors, who are using the OTC desks of firms like Circle and Coinbase more and more.
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