Coincheck to Open OTC Platform for Big Traders

Customers will be able to directly exchange bitcoins with each other using the exchange's web interface, starting from 50 BTC
01 April 2019   393

The Japanese crypto-exchange Coincheck has opened an over-the-counter platform for Bitcoin trading, focused on institutional investors, Cointelegraph reportes.

Thanks to the Coincheck OTC platform, customers will be able to directly exchange bitcoins with each other using the exchange's web interface, starting from 50 BTC. The service will be available on working days from 10:00 to 15:00 local time.

The company is also considering expanding support for cryptocurrency on its OTC platform in the future.

Coincheck attracted the attention of the general public in January 2018, when, as a result of a hacker attack, it lost $ 532 million in cryptocurrency. The exchange was later acquired by a local brokerage company, the Monex Group.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.