Binance to Launch Crypto OTC Platform

New entity won't support fiat; it's not yet known which assets will be available on it
24 January 2019   719

Largest in terms of trading crypto exchange, has launched a trading OTC platform.

Among the features of the new platform include:

  • the ability to exchange only between cryptocurrencies, no support for fiat
  • trading is available for verified Binance users (Level 2)
  • warrants from 20 BTC
  • transactions are anonymous (their volumes are not publicly available, since operations are carried out outside the “stock exchange glass”)
  • The OTC platform is tightly integrated with the main platform Binance, so there is no need to create separate cryptocurrency addresses.

It is not yet known exactly which assets will be available on the OTC platform - Binance reports only “the multitude of cryptocurrencies available in the listing of the exchange”.

Among other things, Binance has announced support for additional pairs with Tron and Litecoin on its main platform: LTC / TUSD, LTC / PAX, LTC / USDC, TRX / PAX and TRX / USDC.

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   170

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.