A social investing platform eToro is going to open the Department of OTC trading in cryptocurrencies in London. According to representatives of the eToro service is primarily designed for hedge funds as the largest source of demand.
EToro CEO Yoni, Asia (Yoni Assia) revealed some details to Business Insider:
“We are launching the division of OTC trading for organizations… We have already gathered the team in the UK to start to open accounts to trade on eToro. We are opening up a full-fledged stock exchange”.
OTC trading allows the movement of large sums without the risk of derail quotes cryptocurrency on the market. For organizations outside the most popular exchanges is one of the additional safety measures at high risk of breaking exchange. Furthermore, operations on the stock exchange more transparent and much stricter regulated.
Asia added:
“I think that there is now an increased demand from institutions and the growth of interest from public investors… They are trying to understand whether the meaning for them to join the others. We clearly see it. We see more and more players from the public sector in the market and the major banks are showing interest in this area and feel like missing out on many opportunities because they are not allowed to participate in the ICO”.
The current state of the market confirms the words of Asia. In the U.S. these playgrounds opened Circle Financial and Cumberland Mining and, according to media reports, plans to open and Goldman Sachs. However, there are Autonomous associations of traders and investors that serve the same purpose and do not depend on financial institutions.
CEO eToro is not so often publicly expressed their views about the cryptocurrency and the blockchain. For the first time in many months, Asia attracted the attention of the media yesterday, comparing the sale of crypto-currencies with sales of Apple stock in the early 2000s.
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