Poloniex Initiates Trading Services for Institutional Clients

eastplum.com

Circle-acquired crypto exchange Poloniex has revealed the launch of its trading services for institutional clients.

Poloniex has stated on December 4 that it will be providing institutional accounts with support for various crypto trading pairs and API interfaces. The crypto exchange, which was acquired earlier this year by payments platform Circle, is also expected to offer zero-fee transactions for all Bitcoin/USD Coin trades this month.

According to a registration page, Circle will be providing over-the-counter (OTC) trading through Circle Trade as well as services via Poloniex and trading pairs with the USDC stablecoin. Companies wanting to participate in OTC trading must execute an order size not less than $250,000.

Based on its statement, Circle explains that will provide institutional customers with bigger withdrawal limits, in addition to “professional customer support.”
The payments company clarifies:

“Our highly trained team will guide each institutional customer through the onboarding process, coordinate issue resolution across multiple teams and support ongoing trading activities.”

Just like other industry exchanges such as Coinbase, Circle and Poloniex now provide services more particularly for institutional traders. Coinbase, which also provides USDC trading pairs, started offering institutional customers with custody services last May.

Furthermore, Coinbase also very recently began testing an OTC trading desk although it is not expected to go live until early 2019.