The Over-the-counter (OTC) branch of the Chinese crypto exchange Huobi has officially added support for Ripple (XRP) and the company announced the news in their latest press release that we got our hands on and we are sharing it with you in our digital currency news below.
XRP joins the group of cryptocurrencies including Ethereum (ETH), Bitcoin (BTC), Tether (USDT), EOS (EOS) and the Huobi Token (HT) in the long list of tokens that are supported on the Huobi OTC trading platform.
According to the information on the company’s website, Huobi OTC wants to offer a closure between fiat currencies and digital assets since the platform serves as an escrow to all of those users who buy or sell ads on the platform.
The CEO of Huobi Global Livio Weng was quoted in the press release saying that the Huobi over-the-counter platform is important for the company since it is the main platform for users that actually prefer peer-to-peer trading.
Huobi Global is number eight on the list of largest crypto exchanges by trading volumes per day reaching up to $738 million in trades to the day of the press release. As previously reported as a part of the analysis of the crypto OTC desks, there is an increase in the way of how institutional investment is seen as the future of crypto trading after Binance launched their own OTC desks with other crypto platforms following. For example, South Korea’s largest crypto exchange Bithumb was one of the platforms that also launched an OTC trading desk back in February.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]