Coincheck, one of the leading Japanese exchanges that survived one of the more significant hacks in history, is opening an OTC service. As announced on the blog, the crypto-to-fiat exchanges will target large-scale customers.
The service will be limited for direct, large orders, each business day from 10:00 to 15:00 JST. For now, only Bitcoin (BTC) will be available.
OTC trading is an option for those requiring large orders, or to move between cryptocurrency and fiat, without affecting the market. Current exchanges have relatively low liquidity, especially in the BTC pairings with fiat currencies. An OTC service allows for large orders to be matched without price slippage.
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