Business Wire

Active Client Trading Starts on OTCXN Block Trading Venue

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OTCXN, a blockchain-powered capital markets infrastructure company, announced that it has launched its OTC Block Trading venue for Crypto trading. This is the first of several trading venues that will be launched for institutional-only digital asset trading. After a period of successful testing, the venue is now open to all clients with accounts at custodians on the OTCXN network, including Kingdom Trust and Prime Trust, both of whom are regulated US entities that offer custody services for Fiat and Cryptocurrencies. Trading on the venue includes Fiat-for-Crypto, Crypto-for-Crypto and Fiat-for-Fiat.

“We are extremely pleased to announce that our institutional clients are now trading with each other on our OTC Block Trading venue. Clients can now trade without risk to their counterparty and without waiting for settlement payments to hit their account or wallet. The immediate re-tradability of crypto assets with no public ledger transactions means more trading opportunities for our clients,” stated Rosario M. Ingargiola, CEO and Founder of OTCXN.

The OTCXN solution has strong appeal to institutional clients because the cryptocurrency is always held in deep, cold storage, and neither side of the trade ever sends funds or crypto first. An immutable record of all transactions on a proprietary blockchain layer brings transparency and provability to facilitate the audit, fund administration and regulatory requirements of institutional clients.

Later this year, OTCXN will be launching its high-performance matching engine, LiquiMatch, as both a Dark Pool and Lit Central Limit Order Book-style exchange for Cryptocurrencies. Clients will be able to access liquidity across all OTCXN trading venues via a single account at a custodian. OTCXN also plans to launch a marketplace for coin lending and leverage financing in early 2019.

About OTCXN

OTCXN is a capital markets infrastructure company using asset digitization, proprietary blockchain technology, real-time collateral management and an array of institutional trading venues to organize global liquidity and make it tradable via a single account at a custodian on the network. OTCXN has developed the first technology platform that eliminates counterparty and settlement risk without the use of balance sheet and credit, and without becoming a counterparty to transactions. For more information, visit www.otcxn.com and @OTCXN.

Contact information

OTCXN
Lawrence Litzky
Head of Communications
+1-415-636-9041
larry@otcxn.com

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