CoinDCX, India’s first crypto unicorn, has launched an over-the-counter (OTC) desk to facilitate bulk transactions by institutional investors, at a time when the country is fueling one of the fastest growing crypto regions in the world. world.

The installation complements the existing trading platforms of CoinDCX, CoinDCX and CoinDCX Pro, and aims to expand the company’s user base and trading volumes, according to a statement released Wednesday. Institutional clients will now be able to fulfill bulk orders for bitcoin and other crypto tokens without worrying about price volatility.

  • An over-the-counter office is generally used when a certain trade is not possible on the exchanges. This may be because the asset does not trade on the exchanges at all. Instead of matching buyers and sellers, an OTC desk acts as a reseller for anyone looking to trade a given asset. If the order is large, a trader may choose to trade “over-the-counter” to minimize market risk.

CoinDCX wants to make inroads into this relatively untapped market and expand its trading footprint, “with the dual benefits of abundant liquidity and the ability to place limit orders for large trading volumes,” the statement said.

“The average ticket size for such services starts at Rs 30 lakh plus investment. With that, our target audience is found with an entity that trades cryptocurrencies for large amounts, ”said Sumit Gupta, co-founder of CoinDCX. “This segment is more concerned with price certainty and wants to minimize slippage.”

India in crypto overdrive

Indian family offices and high net worth individuals are joining the cryptocurrency movement in droves, and crypto exchanges are welcoming them with personalized services, ET reported on June 23. , against a backdrop of increasing global institutional acceptance of cryptography.

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India has emerged as one of the fastest growing cryptocurrency markets in the world, according to a recent report from Chainanalysis, a New York-based blockchain data platform.

“Large institutional-sized transfers over $ 10 million in cryptocurrency represent 42% of transactions sent from addresses based in India compared to 28% for Pakistan and 29% for Vietnam,” he said. “These numbers suggest that Indian cryptocurrency investors are part of larger and more sophisticated organizations.”

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CoinDCX’s Gupta corroborated these results.

According to him, Indian companies want some of their assets in cryptocurrency. Local startups and their founders are also showing an interest in expanding their portfolio to include this asset class. “We have also seen small business owners or individuals making money by trading across exchanges – using the price difference to make arbitrage profits,” he said.


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