Kraken Launches OTC Block Trading Service

News and Analysis

U.S.-based bitcoin exchange Kraken has announced a major expansion to its OTC trading platform which will enhance the execution of large block trades for clients worldwide.

According to the statement, Kraken now offers deeper liquidity and private, personalized service to institutions and high net-worth individuals needing to fill large orders.

“Whether you are trading blocks of 100,000 USD, 100,000,000 EUR or 2,000 Bitcoin, the OTC desk will provide you with execution and settlement services that are discrete, secure and ultra-competitive,” said the exchange.

The new service is available with 17 different assets (Bitcoin (XBT), Ether (ETH), Bitcoin Cash (BCH), Ether Classic (ETC), Ripple (XRP), Lumens (XLM), EOS (EOS), Litecoin (LTC), Monero (XMR), Dash (DASH), Zcash (ZEC), Melon (MLN), Augur (REP), Gnosis (GNO), Iconomi (ICN), Tether (USDT), Dogecoin (DOGE), and three fiat currencies: US dollars (USD), Euros (EUR), Japanese yen (JPY).

The minimum order size is set at $100,000 but Kraken says exceptions can be discussed on a case by case basis.

Earlier this month, Kraken found itself in a controversy with the rumors spreading that the exchange fired a large number of employees in its location in Halifax, Canada. A security breach was given as the reason for the alleged firing. However, Kraken refuted allegations of ceasing the operations and security breach.

Currently, Kraken offers trading for most of the largest cryptocurrencies, such as, Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Ripple, Stellar Lumens, EOS, Litecoin, Monero, Zcash, and Dogecoin among others.

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