Cryptocurrency OTC desks play an essential role in facilitating large cryptocurrency trades in the global crypto markets.
Read on to learn what crypto OTC desks are, how they work, and why they play an essential role in the global crypto markets.Over-the-counter trading desks facilitate trading between two parties without revealing information about the trade to the public via an exchange orderbook or otherwise.
OTC desks differ from traditional exchanges in terms of transaction transparency. A crypto exchange like Kraken or Binance acts as an intermediary between buyers and sellers. Transactions are executed via an orderbook for everyone to see. The buyer can choose to accept the offer or make a reasonable counter. Should the buyer accept the proposed price, the OTC desk is responsible for sourcing and delivering the BTC to the buyer as per the legal contract signed beforehand., on the other hand, don’t assume the market risk since they don’t put up their own money for transactions. Instead, they act as an intermediary to broker a deal on behalf of the buyer. They will charge a brokerage fee for this service.
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