Poloniex opens OTC and institutional trading

05 Dec, 2018
by Alberto Arnaldo
Exchange
Poloniex opens OTC and institutional trading

The Delaware-based exchange has announced that institutional investors will be able to open an account on their business.

The service will be provided via Circle Trading, the company responsible for the emission and pegging of stablecoin USDC. Circle Trading bought Poloniex back in February 2018 for approximately $400 million US dollars. 

The minimum order size for over-the-counter (OTC) and institutional trading is set at $250.000 US dollars. Circle Trading will also be responsible for fulfilling the KYC (know your customer) requirements regarding the new institutional customers.

Poloniex is the 47th exchange by volume, at writing time. According to coinmarketcap, around $25 million US dollars were traded during the last 24 hours. With the inclusion of institutional customers, it follows the steps of Coinbase, which only 8 days ago announced the opening of a similar service.

Reactions to Poloniex announcement  on Twitter ranged from happines to a certain irony grounded perhaps in the latest price action.

Read more: Coinbase launches over-the-counter trading; Poloniex adds six new trading pairs for Circle's USD Coin

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Read more about:Poloniex

Poll

Do you think institutional money will ultimately be a good thing for crypto?

(18 votes)

Add a comment

They are going to steal money from institutional accounts besides general ones? Or what?
05 Dec, 2018 - 19:06
Looks like yes. They just want to steal money from institutionals too. Poloniex is ok wit it
27 Dec, 2018 - 07:52
Yes, surely. They are going to still all the money in this big world
09 Jan, 2019 - 15:27
ofc
thiefpoloniex forever
09 Jan, 2019 - 16:04
looks so😳 maybe poloniex wont steal. everythin still is unclear
18 Jan, 2019 - 17:03
Poloniex intentionally create the conditions to pump bitcoin and let insiders to sell at the best price.
06 Dec, 2018 - 12:17
Poloniex has now no new coins, can not handle volume, no lending
12 Dec, 2018 - 06:15
I don't like Poloniex anymore due to the long terms of withdrawal and non-responding of the customer support.
16 Dec, 2018 - 10:46
Poloniex is always behind the other exchanges. There are a lot of better exchanges. Don't understand, why people choose it...
16 Dec, 2018 - 11:17
I don't trust polo since I have been waiting my withdrawal for 2 months.
16 Dec, 2018 - 12:20
As for me, Polo is aimed to steel all the money of its users. It can't fix the withdrawal and support team problems, so maybe it does not want to do that.
16 Dec, 2018 - 12:47
On the basis of many articles I had concluded that poloniex is not secure exchange for trading.
16 Dec, 2018 - 15:06
I finished with poloniex a few months ago after the fully disappointing of the customer service work.
16 Dec, 2018 - 23:16
They are really untruthful after sever hack in the past, how can institutions use it?
17 Dec, 2018 - 20:26
I'd rather deposit my money elsewhere but not into poloniex knowing about this scam.
17 Dec, 2018 - 21:07
I don't think that Poloniex is trustworthy exchange. Moreover, I have been waiting for the response of customer service for three months.
17 Dec, 2018 - 23:09
Don't understand how people still can trust this scammers?!?
17 Dec, 2018 - 23:54
I still cannot believe how so many people still trust such scammers as Poloniex?!?
18 Dec, 2018 - 21:11
I'm tired with this scammers. How many times will it try to make better its weak reputation ?!?
18 Dec, 2018 - 22:11
Polo, what has happened to you? No news, no nothing. I can only read about them on their website.
2019 is gonna be written on their gravestone...
19 Dec, 2018 - 09:23
I prefer to stay out of such unreliable exchanges as Poloniex. I've heard so many news about its activity similar to scam.
19 Dec, 2018 - 21:40
It is good that they tried to do it.
Do the institutionals need Poloniex?
It is a question
20 Dec, 2018 - 23:37
It is very good thing, the market needs institutionals.
Nevertheless, no institutional will use poloniex.
21 Dec, 2018 - 00:11
They stolen my account and the support have not answered to my request for 3 month. People, please stop use it.
23 Dec, 2018 - 19:45
Poloniex and institutionals?
lol, really?
I am not sure it will work)
25 Dec, 2018 - 09:25
I advice all institutions keep away from the Poloniex.
26 Dec, 2018 - 21:37
When institutions realize that Poloniex insolvent, they will leave it. It is a matter of time
27 Dec, 2018 - 18:30
I am sorry, but even this great new will not help Poloniex to get their users back
28 Dec, 2018 - 03:18
how 2 unblock acc on Poloniex???? will i b able 2 withdraw coins before NEW year eve????? or not?
28 Dec, 2018 - 13:18
Poloniex opens OTC? hire more supports firstly!
28 Dec, 2018 - 14:32
"Circle Trading bought Poloniex back in February 2018 for approximately $400 million US dollars. " - Circle should do courses of financial literacy....ha ha ha :D
28 Dec, 2018 - 14:35
Dear Poloniex team, please stop talking, do your job!!
08 Jan, 2019 - 04:12
I left this scam after the freezing my account from the unexpected reasons. It was a big mistake to join Poloniex. I will never repeat such a mistake.
08 Jan, 2019 - 22:18
I closed my account in Poloniex and not going to come back to this platform.Heaven forbid!
09 Jan, 2019 - 15:44
And now Poloniex will steal from institutions to
09 Jan, 2019 - 18:14
it is too lste poloniex. nothing will help your platform
09 Jan, 2019 - 22:52
It would be better if they finally began to pay the salary of their technical support.
10 Jan, 2019 - 00:05
Great, now we will have even less money. Thank you, poloniex
10 Jan, 2019 - 15:17
Poloniex is a fraud mechanism releasing the fake news and stealing the users money.
10 Jan, 2019 - 21:11
I still wonder why they ended up closing margin trading? And introduce the institutional which is not so useful for ordinary traders
23 Jan, 2019 - 09:44

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