Money & Banking

CoinDCX launches crypto trading facility for institutional investors

Our Bureau Mumbai | Updated on October 21, 2021

Sumit Gupta, Co-founder and CEO, CoinDCX

Institutional clients will be able to execute bulk orders for crypto assets like Bitcoin and other cryptocurrencies seamlessly.

Crypto exchange CoinDCX launched its over-the-counter (OTC) Desk facility on Wednesday aimed at letting institutional investors trade in cryptocurrencies. Through the OTC Desk facility, institutional clients will be able to execute bulk orders for crypto assets like Bitcoin (BTC) and other popular cryptocurrencies seamlessly.

The facility also offers these clients to purchase or sell their holdings at a particular price without worrying about price volatility caused by market fluctuations.

Sumit Gupta Co-Founder at CoinDCX, said, “The average ticket size for such services start at above INR 30 Lakh plus investments. With this our target audience lies with an entity/person who trades in and out of crypto for large quantities. This segment is more concerned about price certainty and wants to minimize slippages.”

He added, “Corporations wanting to allocate some amount of balance to crypto assets have shown interest. Newly funded startups and their founders too are showing interest in broadening their portfolio by allocating some serious amount into this asset class. Among others we have also seen, small proprietary firms or individuals to make money trading across exchanges utilising price differential to make arbitrage profits.”

The facility supplements CoinDCX’s existing trading platforms, CoinDCX and CoinDCX Pro. With the dual benefit of ample liquidity and ability to place limit orders for large trading volumes, CoinDCX is poised to make inroads into this relatively untapped market and further expand its trading footprint, the company said.

Published on October 20, 2021

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