Japanese cryptocurrency exchange Coincheck has launched an over-the-counter (OTC) cryptocurrency trading service aimed at larger clients, the firm said Monday.
While the service seem primarily to serve bitcoin trades, Coincheck said it will consider trades in other cryptocurrencies.
Coincheck said its OTC trading desk will allow customers to buy and sell a minimum of 50 bitcoins ($205,423 at press time) “quickly” at one go and at “attractive prices.” The service is available on weekdays between 10 a.m. (13 UTC) and 3 p.m. (18 UTC) Japan time.
In an OTC trading service, two parties trade directly with each other, unlike on an exchange where orders are matched between buyers and sellers.
The cyber-attack also forced Coincheck to suspend its services for some months. By November, however, it had reinstated services for all listed cryptos on its platform.
Coincheck has since received a regulatory license in Japan and is now a registered entity with the Kanto Financial Bureau under the country’s Payment Service Act. It's previously said it plans to resume other features, including leveraged transactions, Japanese yen depositing through convenience stores and a scheme that lets users pay utility bills with crypto.
Bitcoin, yen image via Shutterstock
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