Japan’s Coincheck Bitcoin OTC Trading Desk for institutional investors goes live


  • Coincheck’s large scale customers will have the ability to buy and sell large volumes of Bitcoin.
  • The trading will take place via a web interface that is hosted by Coincheck.

Coincheck, a Japanese crypto exchange company has launched over-the-counter (OTC) desk for Bitcoin. A report by Cointelegraph Japan indicates that the OTC trading desk has been launched to serve institutional clients.

The customers will have the ability to buy and sell large volumes of Bitcoin. The limit has been set from 50 BTC. The trading will take place via a web interface that is hosted by Coincheck. However, the report says that opening is limited between Monday and Friday from 10:00 – 15:00 (JST). Notably, Coincheck app or API trading are not eligible for use.

A blog post published for the purpose of the launch by Coincheck says that the service has been introduced to help large scale customers to buy and sell BTC quickly and smoothly. In addition, the exchange is considering adding the same service for other digital assets in the future.

Coincheck suffered one of the most devastating hacks in the crypto industry in January 2018 where $532 million disappeared. The exchange was later acquired by Japanese broker Monex Group. The company has undergone both shareholder and management overhaul in a bid to champion a recovery.

 


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Looking for the best path to the Moon

The fight for dominance in the crypto market is at a new turning point. Yesterday at mid-morning, Ethereum showed intentions to move higher. A significant breakout of the long-term downtrend in the ETH/BTC pair can confirm the plans of Ethereum.

More Bitcoin News

XRP/USD trapped in a range, the range narrows

XRP/USD has stalled in a tight range limited by $0.1700 on the downside and $0.1800 on the upside. The coin  has stayed mostly unchanged both on a day-to-day basis and since the beginning of Thursday.

More Ripple News

ETH/USD retreats below 1-hour SMA200, more pain ahead

ETH/USD is changing hands at $228.60. The coin has lost over 1% since the start of the day and gained 1.4% on a day-to-day basis. Ethereum is the second-largest digital asset has the current market value of $25.6 billion and an average daily trading volume of $6.5 billion.

More Ethereum News

LTC/USD to continue hibernating in a range

Litecoin is the seventh largest digital asset with the current market value of $2.7 billion and an average daily trading volume of $1.15 billion. The coin is locked in a tight range below $42.00.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: US stocks and Bitcoin options to define Bitcoin's future

Bitcoin bottomed at $8,899 on Thursday, June 25, and recovered to $9,200 by the time of writing. While the pivotal $9,000 remains unbroken, the coin has been oscillating in a tight range for about two weeks now.

Read the weekly forecast

BTC

ETH

XRP