The cryptocurrency exchange Crypto.Com today announced the launch of its new over-the-counter (OTC) solution for institutional and VIP clients. At the same time, the company’s native token CRO set a new all-time record.
Crypto.Com Launches OTC Portal
The stock exchange revealed that the new OTC portal will allow a few eligible users to receive instant quotes for large OTC transactions. Typically, such transactions had to be carried out manually.
The solution is to allow institutional investors and several high-volume retail traders to buy or sell trading pairs at a pre-approved price using a backend quote engine that can provide a quote in seconds.
The stock exchange indicated that this OTC portal will allow selected users to take advantage of the market conditions. This will allow them to complete large deals as quickly as possible.
Commenting on the issue, CryptoCom co-founder and CEO Kris Marszalek said:
We are excited to launch our OTC solution for institutional and VIP clients. We will enable them to execute trades easily and use market opportunities more efficiently.
According to the release, only a select few institutional and retail users can access the new service for the time being. However, the stock exchange explained that all institutional and VIP clients will soon gain access to the solution.
Crypto.Com was founded in 2016 and the domain was reportedly bought for a staggering $ 12 million in 2018. Since then, the Singapore-based company has managed to make a solid name for itself in the fast-growing digital asset industry.
The company is currently in the top ten cryptocurrency exchanges in the world. It serves over 10 million users, scattered all over the world, with its highly intuitive cryptocurrency application.
The platform also has one of the world’s largest cryptocurrency card programs.
CRO reaches new ATH
Meanwhile, as Crypto.Com continues to introduce new features and expand its global marketing campaigns and partnerships, its native CRO token is gaining momentum.
Shortly after the company won the rights to the Staples Center name in a $ 700 million deal, the CRO gained more than 50%. Thus, the token achieved a new all-time record of $ 0.79.
As of this writing, the token is trading at $ 0.7. Such a result plans it in 13th place among the largest cryptocurrencies in terms of market capitalization.