In line with a recent ‘official news‘ report published, renowned Japanese crypto-currency exchange named ‘Coincheck’ has now added its primary two altcoins to its recently launched OTC [Over-the-Counter] trading desk.
Coincheck, that began ‘operating‘ its OTC service with Bitcoin [BTC] at the beginning of the month, presently also offers Ethereum [ETH] and Ripple [XRP], the 2nd and 3rd largest cryptocurrencies by market capitalization respectively.
OTC desks offer specialised services for large-volume traders, permitting them to save alot on fees and skirt what would else-wise be considerable hurdles buying or selling major cryptocurrency investments via standard methods.
This feature has become renowned among major exchanges globally, as previously ‘reported‘ on their continued emergence despite the continuing cryptocurrency bearish market.
According to a ‘web-blog‘ post from Coincheck today, the firm will also be considering adding additional altcoins to its OTC desk in due course, however failed to hint as to which it might prioritize.
Earlier in April last year, Coincheck has gone from strength to strength following its ‘takeover‘ by on-line broker named ‘Monex Group’.
After redressing problems ensuing from its giant half-billion-dollar ‘hack‘ that occurred earlier in Jan last year, Monex ‘succeeded‘ in gaining a Japanese regulatory license for Coincheck to continue serving its customers earlier in December last year.
Even in Q3, in line with financial ‘report‘ released at the end of Jan, Coincheck had already halved its losses compared to the previous quarter.
Japan continues to become a hotbed of cryptocurrency trading business activity, with investment outfit named ‘ST Blockchain Fund’ today announcing that it had pumped around $200 Mln into the parent company of Bithumb, which is one among South Korea’s largest exchange platform.