Digital Currency Revolution Series: Kraken Announces Electronic OTC Desk

Kraken has announced to introduce RFQ which is an the automated ‘Request For Quote’ platform, the Kraken OTC Desk appears to be striving hard to further improvisation of already industry-leading white-glove service. 

With this new facility, OTC clients will be able to:

• Request quotes for both buy and sell orders directly from the platform for all of the fiat and crypto trading pairs that we currently offer on the desk
• Accept or decline quotes on the same screen
• See entire transaction history in one simple dashboard.

This seems to be the strategic decision by kraken in the past two months, as they acquired one of the oldest and most recognized OTC desks in the industry ‘Circle Trade’ and ‘Bit Trade’, the first crypto OTC desk in Australia.

Kraken’s report to Econotimes, at the time of these announcements, the upcoming automation and advanced tools for traders designed to streamline the trade process from quote to settlement, with this new RFQ dashboard, OTC clients would be equipped to use the first of these new tools starting February 13th at approximately 17:00 UTC, RFQ platform is designed with an intention to boost ease-of-use for our growing OTC user base.

They say, all of this has bolstered their services and capabilities by providing new trading partners around the world and deeper liquidity and tighter spreads across all supported assets.