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Bithumb Rolls-out Ortus: Its Over-The-Counter Trading Platform

The South Korean cryptocurrency exchange has announced the launch of its global over-the-counter (OTC) trading desk dubbed “Ortus” for institutional investors.

Announcing the news on Thursday, the firm said that the new Hong Kong-based venture – Ortus – is a “block deal, matchmaking service” for institutional clients. In an OTC deal, two parties trade directly with each other, unlike on an exchange where orders are matched between buyers and sellers.

To use the Bithumb’s OTC service users must have to pass Know Your Customer (KYC) and Anti Money Laundering (AML) processes.

Ortus will operate as a subsidiary of Bithumb Global with established offices in the U.K., Tokyo, Hong Kong, Australia, and Argentina.

Mentioning the new platform, Bithumb’s director Rahul Khanna said: “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.

He further added that:

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.

Bithumb didn’t announced which cryptocurrency will be available for OTC trading, but the Bitcoin have more chances due to higher liquidity and higher volume.

Bithumb is not the first crypto exchange to open an OTC desk as many big players in the industry launched similar platforms to lure institutional investors. Last month many other reputed exchanges already started the OTC trading in which Coinbase, Binance and Bittrex are the biggest names. Binance provided OTC trading to its users with a minimum limit of 20 BTC.



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