Posted 1 year ago | by Ben Armstrong
KuCoin and DigitalBits Partner to Launch Enterprise OTC Desk
Singapore-based cryptocurrency change KuCoin has partnered with DigitalBits, a blockchain protocol layer, to launch a new type of over-the-counter (OTC) desk, which aims to stress out of trading and launching tokens.
KuCoin said that the Enterprise Forex Desk (ECD) is designed for companies that want to work with decentralized finance (DeFi) and blockchain technology by offering bespoke options for the acquisition of digital property.
DigitalBits is its first partner, which is a platform that allows companies to deploy branded stablecoins in place of consumer brand loyalty reward systems. Companies are able to access more features via DigitalBits, which allows them to power their operations, such as wallet authentications, staking and transaction fees.
KuCoin also has a range of other advanced trading tools. If you are interested in trading with the exchange, or learning more about what it offers, please click right here!
KuCoin Delivers More Innovation
OTC trading allows people and companies to trade without loads of roadblocks. In addition to offering flexible deal structure, OTC trades can be cheaper, as they remove the work of a centralized exchange and clearing authority.
According to a press release from KuCoin:
“A designated service to address token procurement and liquidity will allow companies to easily engage in blockchain-based solutions, without having to employ experienced traders to obtain and utilize large amounts of tokens.”
Michael Luckhoo, the Digital Bits’ vice president of operations, stated that DigitalBits will be an intermediary that provisions tokens for certain functions of businesses. He added that leveraging a partner in the ecosystem will be useful for companies that want to expand operations in the digital token space.
OTC Trading is a Good Model
The ECD solution set up to cater specifically for enterprise clients. OTC markets tend to attract liquidity, as they offer large trade volumes at lower prices than other forms of trading. An exchange will be able to make money on a per volume basis, while an OTC market would be more likely to charge on a per transaction basis.
“A designated service, addressing token procurement and liquidity allowing companies to easily engage in blockchain-based solutions, without having to employ experienced traders to obtain and utilize large amounts of tokens.”
The ECD will work as a subscription desk for brands and businesses as well as allows brands access to Bitcoin (BTC) and Ethereum (ETH) rewards programs.
To visit KuCoin's website, or sign up for a new account, just click right here. In addition to great institutional trading tools, KuCoin also has retail level crypto trading options as well!