Cryptocurrency
Exclusive: Coinbase Launches Trading Desk For Institutional Investors via @cheddar
As reported by Cheddar, “Christine Sandler, Coinbase’s head of sales, told Cheddar’s Tanaya Macheel that the crypto exchange is launching an agency-only OTC desk in response to demand from its institutional clients. “The move allows Coinbase’s ‘Prime’ clients to execute high volume orders without causing volatility in the public market. “Unlike its main competitors, Coinbase […]
As reported by Cheddar, “Christine Sandler, Coinbase’s head of sales, told Cheddar’s Tanaya Macheel that the crypto exchange is launching an agency-only OTC desk in response to demand from its institutional clients.
“The move allows Coinbase’s ‘Prime’ clients to execute high volume orders without causing volatility in the public market.
“Unlike its main competitors, Coinbase will not act as a counterparty to trades and will instead match client orders. Clients will be able to trade any asset which trades on Coinbase Prime’s order books, according to a memo the company sent to clients on Tuesday.
“Sandler also said that Coinbase plans to expand its OTC desk with future offerings like delayed settlements and integration with its custody solution.”