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