Along with the expansion overseas, Circle also recently acquired established cryptocurrency exchange Poloniex.

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The OTC trading wing of Circle has today announced that they will increase the ondergrens toegangsbewijs size on Bitcoin trades from $250,000 to $500,000. The news comes spil something of a verrassing spil digital currency exchanges have reported a druppel off ter business from the begin of the year.

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Despite Lull te Exchange Trading Volumes, OTC Desks Thrive

Jeremy Allaire, the CEO of Circle, spoke to Business Insider about the decision to increase the ondergrens amount of Bitcoin a client could buy from the trading desk to $500,000 worth:

“The ondergrens toegangsbewijs size has moved up to $500,000 with an media of $1 million.”

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The executive went on to state that some of the transactions that Circle Trade deals with are te excess of $100 million. Allaire also claimed that he believes that the size will proceed to increase.

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OTC (overheen the tegenstoot) trading permits high net-worth individuals to get exposure to Bitcoin and other cryptocurrencies without having to use exchanges such spil GDAX, Losbreken, or CEX.io. Such public exchanges would often lack the liquidity needed to accomplish such deals and orders of overheen $1 million at a time would also severely affect the price of the asset being bought. Naturally, someone making a large buy order would not want to drive up the price of an asset because of the increase te request that they themselves are creating at an exchange with limited liquidity.

An unnamed individual accesible with the OTC trading industry highlighted thesis liquidity issues to Business Insider:

“If I have $Five million, I can’t do that trade on GDAX”.

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Another perk of OTC trading desks is that they’re often more secure than traditional crypto exchanges. High profile examples of hackers targeting exchanges have bot a onveranderlijk blight on the cryptocurrency landscape for spil long spil there have bot such centralised institutions providing a lucrative chance for criminals. Naturally, when making a purchase of seven or eight figures te value, high net-worth individuals will take any security precaution available to them.

According to Circle, they now trade overheen $Two billion worth of cryptocurrency every month. The Goldman Sachs-backed trading desk has also recently announced plans to stir into Asia. Along with the expansion overseas, Circle also recently acquired established cryptocurrency exchange Poloniex. They aim to add extra trading pairs and coins ter the coming months.

The increase ter OTC activity stands ter tegenstelling with the fortunes of public exchanges like GDAX and Openleggen. According to gegevens from Coinmarketcap, the 24-hour trading volumes across all of crypto has dropped considerably since their all-time highs at the beginning of the year. From a high of around $70 billion, there are now around $20 billion te trades made each day.

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