Bithumb to Launch Global OTC Platform

Ortus is a block deal, matchmaking service specifically for institutional clients around the world and is registered in Hong Kong
08 February 2019   563

The South Korean cryptocurrency exchange Bithumb announced the launch of its own over-the-counter platform, access to which will be provided to investors all over the world.

The new unit, Ortus, is registered in Hong Kong and is a block deal, matchmaking service specifically for institutional clients around the world.. Company offices are also located in the UK, Japan, Australia and Argentina.

To connect to the platform, customers will have to go through a “demanding” registration process, which includes the provision of documents related to their identity and anti-money laundering. Ortus supports transfers from US bank accounts and provides custody services. What digital assets will be presented on the platform is not reported.

Institutions trading digital assets need to open accounts at exchanges and OTC desks around the world; however, there is no real solution for an aggregated liquidity provider or a trusted interdealer where Institutions can trade these assets. To fill this market gap, Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service.
 

Rahul Khanna

Director, Bithumb

Last month, Bittrex launched an OTC platform with support for approximately 200 digital assets.

Chainalysis to Expand Transaction Monitoring Tool

Chainalysis AML software KYT now monitors 4 additional tokens in real-time: BNB, GUSD, USDT and USDC
25 April 2019   52

Analytical blockchain-startup Chainalysis reported that starting today, the proposed transaction tracking tool Chainalysis KYT (Know Your Transaction) supports four additional coins. Their number includes the internal token of the Binance BNB exchange, as well as the Gemini Dollar (GUSD), Tether (USDT) and USD Coin (USDC).

Thus, the anti-money laundering software Chainalysis supports 10 cryptocurrency assets. Prior to that, Chainalysis KYT allowed to track Bitcoin transactions, Ethereum, Bitcoin Cash, Litecoin, TrueUSD and Paxos Standard.

As CoinDesk notes, support for new assets has been added pending the publication of new guidelines for the Financial Action Task Force on Money Laundering (FATF).

Chainalysis is prepared to equip businesses with automated transaction monitoring for currencies beyond bitcoin. We expect that the launch of these multiple currency capabilities will help shape FATF guidance on the sector and help move away from technically infeasible solutions to more pragmatic recommendations.
 

Jonathan Levin

Co-founder and chief operating officer, Chainalysis

According to him, Chainalysis recently upgraded its technology, making it more scalable. Thanks to this, in the future it will be easier for it to add support for other new assets.