Coincheck, a Japanese cryptocurrency exchange has launched a Bitcoin (BTC) over-the-counter trading desk for large-scale institutional investors.
The Coincheck OTC trading desk will enable clients to directly trade large volumes of Bitcoin starting from 50 BTC ($207,000) between each other using a web interface hosted by Coincheck.
Opening hours will be weekdays 10:00-15:00 and overtime trading and use of the Coincheck app or API trading are not eligible.
Coincheck revealed that the new service will allow large-scale institutional players to buy and sell large amounts of crypto and it has also indicated that it will consider adding OTC support for cryptocurrencies other than Bitcoin.
Remember that Coinbase launched its own OTC services for institutional clients in November 2018, having gone through a process to become a fully regulated broker dealer by the U.S. Securities and Exchange Commission (SEC) last year.