NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Binance Launching Crypto OTC Desk May Mean Wall Street Demand For Bitcoin Still Exists

Nick Chong
Nick Chong
6 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Although VanEck, CBOE, and SolidX recently pulled their collaborative Bitcoin exchange-traded fund (ETF) application, as Bakkt delayed the launches of its crypto futures vehicle, rumor has it that Wall Street is still clamoring for digital assets. While this purported influx of institutional interest has skirted past the retail investors’ radar, industry upstarts are taking notice, responding in kind. Enter crypto-centric over-the-counter (OTC) desks. And from the labs of this sector’s most preeminent startups no less.

Related Reading:  Wall Street Still Throwing Billions At Bitcoin, But There’s Still A Ways To Go

Bitcoin Giant Binance Hops On OTC Gravy Train

2019 may only be three weeks in, but the crypto industry has already set an optimistic precedent moving forward. In recent weeks, as Bitcoin has continued to trade in a tight, seemingly unbreakable range, organizations in this ecosystem have continued to strut along, unveiling offerings and positive developments. A number of venture groups have hinted at the creation of new funds, upstarts have sought ambitious business deals, and institutions have purportedly begun to double-down on their Bitcoin efforts.

The latter mentioned thematic development has sparked a dewy interest in OTC platforms, which give high-volume traders the ability to purchase cryptocurrencies at market prices, with close-to-zero fees and slippage and with little security and custody risk. As hinted at earlier, this has seen crypto startups try their hands at facilitating off-exchange transactions. Binance, one of the world’s most well-known cryptocurrency firms, is the latest to join the party.

After investing $3 million in a San Francisco-based OTC platform, Koi Trading, Binance launched its own desk on Jan. 23. In an announcement on the company blog, Binance, headed by Changpeng “CZ” Zhao, gave its clients a preliminary look at the in-house crypto-to-crypto OTC desk. Firm representatives claimed that the desk, which supports the 80+ digital assets listed on Binance, would be available for accounts that have completed “Level 2” KYC verification and that are looking to trade over 20 BTC (~$71,000) worth of value at a time.

But what sets Binance’s darkpool apart from its brethren? Other than its inability to process fiat transactions of any sort, this newfangled offering provides an array of cryptocurrencies unavailable on other platforms. Binance’s OTC desk will allow for Wall Street hotshots or high net-worth individuals to invest in smaller cap cryptocurrencies previously inaccessible, potentially sparking a newfound wave of interest in innovative, yet lesser-known projects that tout visions of grandeur.

What Does This Mean For Crypto?

Although Binance’s newest addition to its already expansive product roster is innocuous enough, many believe it underscores a wave of interest in Bitcoin from institutions on Wall Street and abroad. The underlying influx of interest from bigwigs, both in and out of the cryptocurrency space, isn’t just speculation, but fact.

Per previous reports from NewsBTC, Genesis Trading, the OTC arm of the Digital Currency Group conglomerate, recently revealed that its offering saw “tremendous growth” over yesteryear. In an email distributed to the firm’s clients, it was revealed that Genesis’ volumes increased by 50% year-over-year. Just days prior to the email, Circle, a Boston-headquartered fintech upstart focused on bolstering the crypto economy, revealed that it facilitated 10,000 OTC transactions over 2018, which amounted to a jaw-dropping $24 billion in notional value.

While rumors mounted that much of Circle’s volumes pertained to crypto-to-crypto transactions, meaning that minimal fiat was siphoned into this industry, a report from The Block revealed that OTC providers have seen bullish fiat inflows in recent weeks. Cumberland, the cryptocurrency subsidiary of Chicago investment group DRW, revealed that the net imbalance between buyers and sellers surged by 60% during the second week of January.

Michael Moro of Genesis corroborated that OTC desks have begun to see an influx of buying pressure. Moro remarked that while December saw large holders liquidate their holdings rapidly, “buy side interest [has begun] to pick up” as 2019 arrived.

With this and other OTC ventures from Binance’s peers, Coinbase and BitGo, in mind, it has become apparent that Wall Street hasn’t given up on crypto. However, for the time being, much of this interest and participation won’t be apparent, as OTC transactions are settled off-book, secluded far away from the prying eyes of the broader Bitcoin public.

Yet, with due time and ample efforts, institution’s quiet foray into the cryptocurrency realm may begin to crescendo. Case in point, both Bakkt and VanEck & partners, whose products would physically impact cryptocurrency markets, have only doubled-down on their intent to ship offerings, in spite of setbacks.

Featured Image from Shutterstock
Tweet123Share236ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

DOGE

DOGE Bulls Hold The Line At $0.15 — Is The Rally Still Alive?

Dogecoin (DOGE) prices have crashed by over 4% in the past month indicating a slightly dominant bearish influence in recent...

Semilore Faleti 6 hours ago
Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Een top crypto analist heeft op Tradingview zijn licht laten schijnen op de Dogecoin koers. Volgens SwallowAcademy kunnen we binnenkort...

Lars Diederiksen 8 hours ago
Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets....

Sebastian Villafuerte 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Scott Matherson 1 hour ago
Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Christian Encila 2 hours ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Semilore Faleti 4 hours ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    13 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    20 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    1 day ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.