Binance diversifies millions of USD into OTC crypto-desk setup

Binance, the renowned retail exchange for cryptocurrencies, doesn’t seem to be bothered much amid the blood bath in the cryptocurrency avenues, as the firm recently diversified 3 million USD into Koi Trading, which is a U.S.-based over-the-counter (OTC) trading desk who focusses in non-retail crypto exchange.

Koi Trading also has various other gamut of industries as well, which include quantitative research, analytics, data science and compliance. 

Well, the San Francisco-based start-up’s extensive portfolio ostensibly completed its reasonable investment for Binance itself, which has been ramping up its ventures throughout 2018’s dismal market.

Ella Zhang, the chief of Binance Labs, divulged that her firm’s investment in the OTC desk was triggered by the alignment of Koi Trading’s and that of Binance. She further clarified:

“Koi’s Trading 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 exchange globally.”

As per the few investment veterans, the $3 million investment was perceived as an attempt to capitalize on China’s turbulent crypto prospects, which was battered by their regulators in recent times.

Koi appears to be keen on penetrating the Chinese and US markets, despite the blanket ban on centralised cryptocurrency trading in the country. The company said to have a OTC trading volume of approximately about Rmb150 million ($21.6 million) in China alone.

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