The supplier Wallet Blockchain.com has created an OTC trading desk as part of its efforts to satisfy institutional investors. Also in The Daily this Sunday, Shapeshift launches the new Coincap tracker, Kraken lists Cardano and Qtum, and Compound offers its users the ability to shorten cryptocurrencies.
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Blockchain.com launches the OTC trading desk for institutional investors
Blockchain.com, the popular cryptocurrency wallet provider, has launched an over the counter (OTC) trading desk as part of its plans to attract institutional investors. The company already offers customized custody services to meet the needs of customers such as hedge funds and asset managers. The move will allow Blockchain to conduct large private crypts outside of public exchanges.
The former DRW fixed income trader, Vince Machi, is managing the new OTC branch, according to a familiar source for development, cited by The Block. The news comes after previous reports that Jamie Selway, the former head of electronic brokerage services and execution services at the Investment Technology Group (ITG), assumed responsibility for the institutional efforts of Blockchain.
A number of companies in space already provide OTC services, including DRW and DV Trading, as well as cryptocurrency exchanges such as Kraken and Itbit. Blockchain.com claims to have 28 million downloads of its portfolio offered as part of its retail business.
Shapeshift announces the new Coincap tracker
Exchange of digital resources Shapeshift has announced the relaunch of its cryptocurrent tracker, Coincap. The rebuilt platform now offers users new features and functions for monitoring and interacting with global price data for cryptocurrencies and tokens, the company said in a blog post. Coincap, which is one of the alternatives to Coinmarketcap, offers real-time market data for these activities, including market capitalization, coin volume and 24-hour exchanges and the available offer. It supports over 1,000 cryptocurrencies and uses information from over 65 crypto trading platforms.
Some of the new features included in the update include changes in prices and markets in real time, lists of pairs and exchange volumes, display of trading with granular candle tables, status updates with date and time and a new API with more endpoints such as rates, exchanges, markets and candles The Coincap.io website now offers a mobile-optimized design, dark mode and no advertising. Mobile apps redesigned for Android and iOS users should be released by the end of the year.
Commenting on the re-launch, Shapeshift's founder and CEO Erik Voorhees said, "Coincap's new Web and API service, built entirely from scratch, is another way we strive to create the best experience for our users. This is the next step in a product that provides reliable and transparent cryptographic data, "he said.
Kraken adds new coins – Cardano and Qtum
The US-based exchange Kraken has added two new cryptocurrencies to its cards, Cardano (ADA) and Qtum (QTUM), the trading platform announced in its blog and on social media. The trade in the two currencies began last Friday. ADA and QTUM must be combined with USD, CAD, EUR, BTC and ETH. According to the press release, margin trading will not be available at launch, but may be activated in the future. The company claims to want to list multiple digital assets but notes that it will follow its policy not to disclose details in advance.
Option of offers composed of short cryptocurrencies
Compound customers, a platform for lending and borrowing digital coins, will now be able to earn money from falling cryptographic prices. Reportedly, the company has launched a money market protocol to short-circuit cryptocurrencies. The option allows users to borrow and short Ethereum (ETH), 0x (ZRX), Basic Attention Token (BAT) and Augur (REP). The company's CEO, Robert Leshner, told Techcrunch that if and when Compound climbs, "this will lead to some really interesting improvements in the market structure, that is, fairer prices." The startup, which is funded by Coinbase, Andreessen Horowitz and Polychain Capital, has established partnerships with over two dozen hedge funds, including high-frequency trading platforms and over the counter trading desks.
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Images courtesy of Shutterstock, Coincap.
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