CoinJar is offering institutional investors a way to make big crypto trades
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In yet another sign that high net-worth investors are starting to take cryptocurrencies seriously, Australian crypto exchange CoinJar has launched two solutions allowing institutional investors to make large trades.
The digital asset company has revealed a new over-the-counter (OTC) trading service and further trading support solutions via its website, which will allow investors to make trades in excess of $50,000 away from open marketplaces.
CoinJar says its services offer “ultra-competitive rates and liquidity” across cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin.
Awareness and acceptance of cryptocurrency has been growing this calendar year, with some experts some putting Bitcoin’s rebound from its December crash down to support from big-name financial institutions.
CoinJar’s head of institutional, Jordan Michaelides, says the reason for the new platforms was demand — plain and simple.
“We have had many unprompted queries from fund managers, financial service firms, and market makers about opening up a trading account or requiring OTC services so that they can make large trades of digital assets,” he says.
“Institutional investors often opt for discreet one-on-one trading to supplement their market trading, because of the greater flexibility including rates offered, solutions offered and settlement periods.
“Most of the time, it’s a matter of liquidity and balancing their exposures. We have had a few high-net-worth individuals also simply seeking to add cryptocurrencies to their portfolio.”
CoinJar’s OTC service is available to individuals and institutions looking to make trades above A$50,000. It is also offering an institutional layer for its trading platform CoinJar Exchange, including access to its API.