Minimum orders doubled to $500000 by Circle’s OTC Crypto Desk

The chief executive of fintech startup, Circle, has divulged that Circle Trade, the company’s over-the-counter trading desk has doubled the minimum order size in recent days. This is in spite of the fact that values of most trades are higher. The chief executive, Jeremy Allaire, is impressed by cryptocurrencies’ showing in 2018 even as the prices entered a bear cycle. 
He said, 
‘The market is robust.” 
He further commented,
“The minimum ticket size has moved up to $500,000 with an average of $1 million.” 
The OTC
Previously, the minimum order size for Circle’s platform was $ 250,000, and the firm had also reported that it was handling about $2 billion worth of OTC trades per month. OTC trading is necessary to adopt crypto assets institutionally as traders can execute large orders with the help of these. 
Funding from Goldman Sachs
Allaire also said that Circle, which has received financial backing from Goldman Sachs, has processed individual trades in excess of $100 million. 
He also predicted, 
“That watermark will continue to rise.” 
There are a number of other platforms as well that offer OTC trading for institutional clients. The number will increase as other large firms step into the virtual currency market. 
The cryptocurrency exchange of the Winklevoss twins will be offering block trading, and they will also report transaction data on a delay to minimize the impact on exchange pricing. It has also come to light that Kraken, another U.S based exchange will be offering OTC trading for this month only. 
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