eToro Targets Institutions as it Launches an OTC Trading Desk in London
eToro, a global trading and investment platform with over ten million users, has announced that it is expanding to the US with ten cryptocurrencies, allowing investors to trade equities directly.
The trading platform also announced that it is setting up an over-the-counter (OTC) trading desk in London for institutions wishing to trade on cryptocurrencies.
OTC simply refers to any financial activity that does not take place in an exchange. Things that are negotiated in this way are often subject to less transparency and regulation than they would be if they were listed on an exchange.
“We are launching an OTC desk for institutions. We’ve seen more and more interest from corporate and institutions,” CEO Yoni Assia told Business Insider. “We’ve actually set up our corporate team here in the UK to start setting up accounts to trade on eToro. We’ve announced that we’re launching the exchange as well so, between the exchange and the OTC desk, we’re also starting to serve more potential institutions and financial institutions.”
Institutional OTC desks help big players whose massive transactions might move the markets if they were done in the open.
eToro is a global investment platform, which empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from cryptocurrencies to stocks and commodities. It was founded in 2007 and began offering Bitcoin trading in January 2014.
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