Binance Labs has been reported to have invested over $3 million into an over-the-counter (OTC) cryptocurrency trading startup based in San Francisco, Koi Trading. Koi was built to be a reliable OTC pathway for institutions to gain entrance to the crypto market while also offering research and consulting services.
Head of Binance Labs, Ella Zhang says the platform main goals are to give Wall Street investors a fully compliant and secure way to enter the market, according to a report done by CCN.
“Koi Trading’s mission is to bridge fiat and cryptocurrencies in a compliant manner. This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of value exchange globally.”
CEO and Founder of Koi Trading, Hao Chen has gone off to say that China in particular has been witnessing the rise of OTC trading since the country went on to ban crypto exchanges during the previous year. Chen hopes to offer a much more professional and compliant way to facilitate OCT trading in the country.
“Our team of experienced traders and sales personnel will join forces to tap into vast networks of counterparties in North America, Asia and the EU, bridging the gap that divides the current OTC landscape.
With Koi’s robust AML program, extensive banking relations in the US, investment from Binance Labs, and strong trust amongst counterparties in Greater China, we aim to be the market nexus that reduces trust and information asymmetry and improves cryptocurrency OTC deal close rate.
Koi has locations based in North America, Hong Kong and Europe for the time being.
Binance has manage to step into the playing field alongside other industry leaders such as Circle and Coinbase, in a worldwide effort to develop the kind of compliant and secure infrastructure that will bring large institutional money into the crypto scene. This can only leads towards more and more advancement into the crypto space and soon a much more refined system in place for investments to be smooth as possible.
What will this lead to in the future?
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