Bitcoin exchange itBit has launched its “Global OTC Agency Trading Desk” – a boutique service that specializes in facilitating large transactions over 100 bitcoins.
Through the trading desk, itBit’s customers can access regulated over-the-counter and exchange markets with one account.
Bobby Cho, Director of Trading at itBit, noted:
There has been a vibrant OTC bitcoin trading market operating in parallel to the existing exchanges. itBit’s Global OTC Agency Trading Desk offers the best of both worlds, allowing clients to trade in the OTC market through their existing itBit exchange account.
Cho also indicated that OTC trading through itBit provided deep liquidity from a global network of clients across hundreds of countries, no broker or trading fees, same-day settlement and a “private, personalized” trading experience.
The exchange is offering $50 in bitcoins when traders complete your first OTC trade of 100 bitcoins or more.
itBit is the first bitcoin exchange to be regulated by New York State Department of Financial Services and in the United States, and is venture-backed by RRE Ventures, Canaan Partners, Liberty City Ventures, Jay W. Jordan II and Raptor Capital Management chairman James Pallotta.