Jeremy Allaire, CEO of Circle, funded by Goldman Sachs, told Business Insider that the over-the-counter trade in bitcoins began to gain momentum as part of his service, which forced the firm to double the minimum amount for a cryptocurrency transaction: from 250,000 to 500,000 dollars. Allaire explains this by saying that "the market is robust."
The minimum ticket size has moved up to $500,000 with an average of $1 million. That watermark will continue to rise.
Over-the-counter transactions go beyond the traditional books of exchange, such as GDAX, Kraken or Binance, as their execution requires compliance with certain conditions.
Trading platforms like Circle can boast of increased liquidity and that allow institutional investors and large traders with their own capital to participate in trades without seriously affecting the market.
If I have $5 million, I can't do that trade on GDAX.
OTC platforms can provide a more secure alternative to crypto exchanges, which are known for hacks and outages.