Coincheck added Ethereum and XRP on OTC platform

Japanese cryptocurrency exchange Coincheck has added support Ethereum (ETH) and token XRP from Ripple on the newly launched the-counter (OTC) platform. It is reported by Cointelegraph.

In addition to ETH and XRP OTC platform Coincheck supports bitcoin. Manual trading platform with future plans to add other scriptactive.

OTC platforms are focused mainly on large traders wishing to reduce transaction costs when dealing with large amounts. In particular, transactions on these platforms are outside of the core of the order book of the exchange, that sometimes allows to avoid excessive price fluctuations. In addition, on these platforms, investors often have the opportunity to buy or sell an asset at a better price.

Recall, OTC platform Coincheck started about two weeks ago. The minimum threshold of the transaction is 50 BTC.

Last year Coincheck has been the victim of a massive hacker attack, during which it was stolen more than $500 million in XEM-equivalent.

Then the exchange was purchased by a major online broker Monex Group Inc. The amount of the transaction amounted to $33.6 million.

In early 2019 the financial services Agency, Japan’s Coincheck allowed to continue.

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