Circle's over the counter trading desk saw $24B worth of trades in 2018

04 Jan, 2019
by Colin Hawkins
Circle's over the counter trading desk saw $24B worth of trades in 2018

Finance firm Circle saw $24 Billion of trading volume in 2018 according to a blog post through Medium on January 3.

With these massive numbers Circle plans to continue growing, as stated in the blog post:

“This year, we anticipate further incremental growth in institutional adoption catalyzed by stablecoin usage, advancements in institutional custody solutions, increasing regulatory clarity particularly in the [United States], and improvements and innovation in core crypto infrastructure.”

In 2018, Circle executed over 10,000 over the counter (OTC) trades with 600 different counterparts. They also claim to partner with over 1,000 different institutional clients including, exchanges, token projects, OTC desks and asset managers.

OTC trades facilitate trading without using a crypto exchange intermediary. Institutional investors are drawn to OTC desks of firms like Circle and Coinbase. Coinbase first started offering their OTC trading for institutional customers in November 2018 due to the shift of institutional investors gravitating towards these markets.

MV Index Solutions, a VanEck subsidiary is another company to jump on the OTC bandwagon. They launched their Bitcoin index based on three major OTC desks in November 2018.

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