As Bitcoin Falters, Coinbase Launches “Agency-only” OTC Desk
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After Coinbase Institutional lost Adam White to Bakkt, likely catalyzing the shutdown of its in-house index fund, speculation has raged regarding the health of the shadowed institutional crypto sub-sector.
More specifically, some skeptics have even claimed that in spite of the Intercontinental Exchange’s announcement of Bakkt, for example, institutional forays are few and far between.
However, a representative from Coinbase, coupled with a newfound push for the business of institutional players, has clearly accentuated that this couldn’t be further from the truth.
Although NewsBTC reported that insiders claimed that Coinbase was slated to launch an institution-focused over-the-counter trading (OTC) desk in May, at the time, this was nothing more than a well-fleshed out rumor. However, in a recent interview with fintech media outlet Cheddar, Christine Sandler, head of coverage at Coinbase, has divulged that these supposed plans have become a reality.
Credit:https://www.newsbtc.com/2018/11/28/coinbase-launches-otc-platform-clients-still-bullish-on-crypto/