eToro Launches Full Crypto Exchange and 8 Custom Stablecoins

The blockchain subsidiary of social investing platform eToro has launched a cryptocurrency exchange along with eight branded stablecoins. The new platform is being managed by eToroX, which is regulated by the Gibraltar Financial Services Commission, the firm announced Tuesday. Trading in six cryptocurrencies will be offered at launch: bitcoin (BTC), bitcoin cash (BCH), ether (ETH), XRP, litecoin (LTC) and dash. Also available will be 37 crypto-to-fiat pairs, for example BTC/USD and XRP/GBP. The firm is additionally issuing eToro-branded tokens pegged to eight fiat currencies, including the eToro United States dollar (USDEX),…

Coincheck Launches OTC Trading Service for Bitcoin

Japanese cryptocurrency exchange Coincheck has launched an over-the-counter (OTC) cryptocurrency trading service aimed at larger clients, the firm said Monday. While the service seem primarily to serve bitcoin trades, Coincheck said it will consider trades in other cryptocurrencies. Coincheck said its OTC trading desk will allow customers to buy and sell a minimum of 50 bitcoins ($205,423 at press time) “quickly” at one go and at “attractive prices.” The service is available on weekdays between 10 a.m. (13 UTC) and 3 p.m. (18 UTC) Japan time. In an OTC trading service, two…

A New Exchange Launches, Letting Institutions Custody Their Own Crypto

A new crypto exchange for institutional investors is launching this month with an unusual approach to custody. LGO Markets, based in New Jersey, officially launched Monday with limited functionality, allowing new users to set up and fund their accounts. However, spot trading in bitcoin will start on March 11. According to CEO Hugo Renaudin, the company has secured 10 institutional clients already – mostly over-the-counter (OTC) trading desks, plus several hedge funds, crypto businesses and market makers. Another 56 clients are in the process of onboarding, he said. The firm…

Philippines Union Bank Launches Crypto ATMs

One of the Philippines largest banks, Union Bank, is set to launch the first two-way crypto ATMs in the country. Union Bank Crypto ATMs Customers will be able to buy and sell cryptocurrencies for cash through the ATM. The idea is to provide an easy and accessible means for crypto to fiat conversion and vice versa. The move may help to spur on adoption for the digital asset. Union Bank said the following on the crypto ATMs: “In the bank’s continued quest to cater to the evolving needs and tastes…

Crypto Exchange Bithumb Launches OTC Trading Desk for Digital Assets

Bithumb Global has launched an over-the-counter (OTC) trading desk for digital assets. Announcing the news on Thursday, the firm said that the new Hong Kong-based venture – Ortus – is a “block deal, matchmaking service” for institutional clients. In an OTC deal, two parties trade directly with each other, unlike on an exchange where orders are matched between buyers and sellers. “Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service,”…

Bittrex Launches Over-the-Counter Trading Platform for Bitcoin, Crypto

Major cryptocurrency exchange Bittrex will launch an over-the-counter (OTC) trading desk today, January 14, 2018, by 18:00 UTC. The service will allow investors to trade nearly 200 digital assets currently offered on the Bittrex trading platform. OTC trading is popular with institutional investors who trade in large volumes of cryptocurrencies. This form of crypto trading happens between two parties, and it takes place away from the exchanges. OTC trades are often handled via brokers, who offer high-volume traders a trading desk to execute large trades with a faster settlement and…

Bittrex Launches OTC Trading Desk With 200 Cryptocurrencies

U.S. crypto exchange Bittrex is launching an over-the-counter (OTC) trading desk. The new service, which will allow approved clients to “quickly and conveniently trade assets,” will support nearly 200 cryptocurrencies already offered by the exchange, the company announced Monday. According to the exchange, the OTC desk will provide “guaranteed pricing” for major trades, “typically $250,000 or greater.” OTC trading desks facilitate direct transactions between two parties, unlike exchange trading where buy and sell orders are matched through an order-book. The desk itself will not go live until 18:00 UTC on…

OKEx Launches No-Expiry Bitcoin Derivative Product

Malta-based OKEx, currently the second largest crypto exchange by 24-hour adjusted volume, has launched a new bitcoin derivative product with no expiry date, meaning that positions can be held indefinitely. Announced Tuesday, the product, dubbed a “perpetual swap,” allows crypto traders to speculate on the future value of OKEx’s bitcoin (BTC) to U.S. dollar (USD) index. Each swap contract has a notional value of $100 equivalent in BTC, the exchange said in a statement, adding that traders can either long a position to profit from an increase in bitcoin’s price…

Gemini Launches New Mobile App for Crypto Traders

Crypto exchange Gemini has just launched a mobile wallet for its users. Gemini CEO and co-founder Tyler Winklevoss wrote in a Medium post on Tuesday that the new app allows customers to buy or sell cryptocurrencies, view market prices, see their own portfolio values and set price alerts, among other features geared toward traders. The exchange is working to “build the future of money” through its licensed exchange and regulated custodian, Winklevoss wrote, ensuring that customers can entrust their holdings to a compliant platform. “A trusted and regulated platform, however,…

Binance Launches Multi-Account Feature for Institutional Crypto Traders

Crypto exchange Binance is looking to aid institutional investors with a new sub-account feature. Announced Thursday, these sub-accounts will allow institutions to set up multiple trading accounts for each firm, with different accounts being given different levels of access and control. The firms’ main accounts will be able to control these sub-accounts, granting them permissions as needed. A single institution may have up to 200 sub-accounts, according to the exchange. In addition to the different levels of account types, Binance will allow different sub-accounts to transfer funds with no fees…