Binance announces the launch of OTC desk at its first conference! Reports of customer data breach denied
Binance Announces OTC Desk Launch at Conference
Wei Zhou, the Chief Financial Officer of the world’s largest cryptocurrency exchange Binance, spoke at an event on the 22nd and
revealed that Binance has started an OTC trading desk.
"#Binancehas launched an crypto OTC desk providing additional liquidity to our exchange users" -@weizhouBinance https://t.co/qVBPaiKgyX
— Binance (@binance)January 22, 2019
The announcement was made during Binance’s inaugural conference, Binance Blockchain Week, held from January 19 to January 22.
The program featured Sam Bankman CEO of Alameda Research and Binance’s Wei Zhou, CFO.
Wei Zhou, CFO,
“We have launched a cryptocurrency OTC desk to provide users with new liquidity.”
and announced the start of a new cryptocurrency service.
【※1. What is OTC trading?】
OTC stands for Over The Counter, which in Japanese is “otentorihiki” (店頭取引).
OTC trading refers to buying and selling cryptocurrencies directly between individuals without going through exchanges, including person-to-person trades as well as person-to- retail-platform trades.
Because it helps avoid direct influence from order books or liquidity, it is favored by large-volume traders, and it is not uncommon for minimum trade amounts to exceed 100 million yen.
【Table of contents for this article】
1: Binance announces OTC desk launch at conference
➜ Binance’s institutional and large-entrants acceptance strengthening measures
2: Binance’s CZ denies customer data breach reports
3: Related articles you should read now
