OTCXN Officially Launches OTC Crypto Venue for Block Trading

Institutional Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term trading platform OTC Exchange Network (OTCXN) has officially launched its OTC Block Trading venue, which allows the execution of live block transactions on a large variety of crypto and fiat pairs.

The new platform offers deeper liquidity and multi-custodian solution to institutions and high net-worth individuals needing to fill large orders on fiat-to-crypto, crypto-to-crypto, and fiat-to-fiat instruments.

After completing its final phase of beta testing, the venue is now open with full capacity after OTCXN has already signed US-regulated custodians Kingdom Trust and Prime Trust, a move that could help the hybrid platform bring in more users. OTC Block Trading delivers trading access with a single account at the preferred custodian of a trading desk or exchange.

Both SEC-authorized firms provide custody for trading venues that use OTCXN technology and is looking to facilitate clearing and settlement of OTC block trades. However, they are not the only providers of infrastructure and operational cryptocurrency custodianship for the wider investment management industry. Leading cryptocurrency exchange Coinbase, Japanese financial holdings company Nomura and most recently SIX Group, the owner of SIX Swiss Exchange, have all recently launched similar services for institutional investors.

Prime Trust is already famous at the blockchain space thanks to its back-office solutions. The company began its Bitcoin storage service in July, and then added support for Ethereum and ERC-20 tokens.

Multi-Custodian Solutions in the Market

OTCXN leverages its proprietary blockchain technologies to establish a completely new market model that improves liquidity access for the entire FX and cryptocurrency ecosystem.

OTCXN was established by electronic trading and e-FX technology expert Rosario Ingargiola, founder of FXone. Ingargiola led the design and development of one of institutional FX exchange technology stacks, used by global Tier-1 banks.

Commenting on the news, OTCXN’s CEO and founder Rosario M. Ingargiola said: “We are extremely pleased to announce that our institutional clients are now trading with each other on our OTC Block Trading venue. Clients can now trade without risk to their counterparty and without waiting for settlement Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to hit their account or wallet. The immediate re-tradability of crypto assets with no public ledger transactions means more trading opportunities for our clients.”