Coinbase exchange this Wednesday reported a “direct integration” custodial service Coinbase Custody in its OTC platform.
According to the publication in the Coinbase blog, the customers of the custodian of the service can now negotiate the price of the orders and confirm the terms before you transfer funds to the OTC platform. Previously traders had to withdraw assets from cold storage in a purse on the trading platform and only then to carry out the transaction. The output of the Coinbase cryptocurrency Custody takes from 24 to 48 hours, which reflects negatively on the final terms of the trade.
“OTC trading platform more vulnerable to fraud. The combination of the OTC platform and custody solutions will provide the same level of security on the stock market, while improving liquidity,” said CEO of consulting company Bevel, Jessica Schaefer.
Coinbase has also confirmed that it has already conducted the first test of a deal on a new principle. According to the exchange, the whole process took no more time than other transactions online.
Earlier a similar service was organized by the company BitGo as Coinbase Custody engaged in the storage of large amounts of cryptocurrency assets. In January it entered into an agreement with an OTC Genesis Trading platform, allowing its customers were able to exchange cryptocurrencies without having to remove them from storage.
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