HodlHodl, a Latvia-based non-custodial peer-to-peer Bitcoin- and Litecoin-trading exchange, has recently announced the launch of a full-blown OTC (Over-The-Counter) trading service for large institutional investors in crypto. The new business line is expected to become operational in a matter of months.
Keeping on with the growing demand for off-exchange cryptocurrency trading, HodlHodl team will provide users with an advanced OTC platform, featuring non-custodial multisig escrow addresses for secure trading. These addresses will require 2-out-of-3 signatures to release the transactions: one belonging to the buyer, and one to HodlHodl. The exchange will undertake the function of mediator, should any disputes arise between the buyers and the sellers.
The company is now hiring brokers for its new OTC trading desk in order to match buyers with sellers and vice versa. At the same time, the process of getting EU brokerage license is under way.
The introduction of the new service will not affect HodlHodl’s main functionality as a non-KYC/AML non-custodial p2p exchange.
The company’s CEO and CTO Max Keidun and Roman Snitko have recently revealed some more details on the project in an exclusive interview to BitNovosti.
According to a recent analytical report published by TABB Group, the over-the-counter market of bitcoin turns out to be significantly larger than the global bitcoin exchange market.