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Major global crypto exchange Huobi has launched a regulated over-the-counter (OTC) trading desk for institutional investors. Titled “Huobi OTC Desk”, the desk is fully regulated by the Gibraltar Financial Services Commission (FSC), and enables major fiat-to-crypto and crypto-to-crypto trading pairs.

Unlike the existing Huobi’s OTC retail products, the new OTC trading desk enables a principal OTC trading process under Huobi Technology, Huobi’s regulated OTC trading entity in Gibraltar, while the existing OTC offering on otc.hbg.com enables peer-to-peer (P2P) tradings under Huobi Global, the firm clarified.

Jeff Adams, Senior Sales Manager for Huobi Global, stated that the launch of Huobi OTC Desk was driven by demand from investors for large volume transactions, claiming that the company has seen an “unfilled need” for such services.

Speaking at a special Huobi meetup event in New York, Adams also stressed a surge of interest by traditional traders who “are still uncomfortable jumping into unregulated trading environments.”

According to the announcement, Huobi OTC Desk supports major cryptocurrencies such as bitcoin (BTC) and ether (ETH), as well as fiat currencies including the United States dollar (USD), euro (EUR), and British pound sterling (GBP).

The launch of Huobi’s regulated OTC Desk follows the firm’s acquisition of a Distributed Ledger Technology (DLT) license from the Gibraltar FSC in late 2018, which enabled the exchange to attract institutional investors.

In early 2019, Huobi reported that its P2P OTC desk has become one of the most traded OTC platforms worldwide. The desk offers OTC transactions in bitcoin, ether, eos (EOS), major stablecoin tether (USDT), Huobi Token (HT), as well as ripple (XRP), which was listed in March 2019.

OTC trading saw significant growth in 2019, with Binance exchange reporting that its OTC offering drove major profits for much of last year.

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Image by StartupStockPhotos from Pixabay

James Preston
James Preston is the Managing Editor of South Africa's first and largest news website for the blockchain industry: Global Crypto. He is a writer and media commentator who has been reporting on how the Tech industry will make the world a better place for 14 years, with a large following on South African radio. He is an early adopter of Bitcoin, and began reporting on its revolutionary capabilities in late 2014. Philosophical by nature, he is intrigued by how the world works, and in turn, how it can be bettered. James believes wholeheartedly that the world can become as close to perfect as we humans can imagine, but it will take a lot of effort (and time) to get there. He believes his life purpose is to inspire people to believe this, and find their place in helping humanity achieve it. James regularly does talks on emerging technology and its impact on society at Universities, global conferences, and events. To invite him to speak at your event, or comment for your media outlet, email info@globalcrypto.tv