Crypto trading platform Bitfinex has announced a blockchain based over-the-counter (OTC) service for its subsidiary Ethfinex. Ethfinex is a trust-less Ethereum token trading platform. The announcement came via a tweet on Monday.
We’re proud to unveil an important development in our decentralised offering – @ethfinex Trustless OTC, a blockchain enforced Over-the-Counter service. Get started today https://t.co/iIFtnzdg5a pic.twitter.com/pKSFeHaiuP
— Bitfinex (@bitfinex) June 3, 2019
Bitfinex is one of the leading spot trading platforms for major cryptocurrencies, including Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, Monero, etc. It offers a peer-to-peer leveraged margin trading, allowing users to trade securely with leverage up to 3.3 times. Bitfinex is among the most liquid order books in the world, facilitating easy exchange of BTC, ETH, EOS, LTC, XRP, NEO, and many other digital currencies with minimal slippage.
Ethfinex is an Ethereum token trading platform, which gives users access to centralized and on-chain trading portals. The platform is focused on empowering users by handing them the tools needed to succeed. The new OTC feature introduced on Ethfinex will provide a unique new way to trade tokens, which will enhance flexibility while trading on the exchange.
Orders received on the new trust-less OTC will not be shared on the regular exchange order book. It would rather generate a unique “taker” URL to be shared with the trading partner, and making them be the sole taker of the tokens made available. The OTC will place special emphasis on security, liquidity, and transparency aspects of trading.