The financial services infrastructure company OTCXN has launched its OTC Block Trading platform for institutional trading of cryptocurrency and fiat currency.
The company said in a press release account holders with firms on OTCXN’s network that offer custodian services (the safeguarding of assets) can now use the platform and execute fiat-for-crypto, crypto-for-crypto and fiat-for-fiat transactions. Those firms include Kingdom Trust and Prime Trust.
The San Francisco-based company said the platform would be the first of several “trading venues that will be launched for institutional-only digital asset trading.”
OTCXN provides a blockchain-based, peer-to-peer trading platform for institutional investors to execute transactions involving cryptocurrency and fiat currency. A record of trades is viewable via a distributed ledger.