Blockchain Infrastructure Project OTCXN To Test Platform Allowing Custodians To Settle Client’s Trades

OTCXN is a global liquidity aggregation and exchange platform- for both digital and traditional assets. Their mission is to democratize markets and eliminate market inefficiencies. With the right architecture, blockchain technology will power a completely new market model revolutionizing liquidity access and risk reduction for the entire FX and cryptocurrency ecosystem.

Keeping this goal in mind San-Francisco based OTCXN is now testing a service that will enable institutional tradesmen to operate assets at their counterparties’ managers even when they do not have accounts. What it essentially means is that these institutions can trade directly on behalf of their clients.

OTCXN CEO Rosario Ingargiola says:

“Our model can support cross-custodian settlement because we have a custodial blockchain ledger. We are able to facilitate transactions custodian to custodian where essentially tokens are re-allocated on the respective custodian ledger.”

John Morris, the company’s COO says that the current crypto custodians like BitGo have been isolating themselves by allowing services like internal settlements. Their new product will certainly allow them to add liquidity to the market. Morris goes on to state:

“In the traditional market, a custodian is the supporting actor of the whole trading settlement process, and there are other actors that are doing more of a role like a clearinghouse. Within our system, those clearing houses are replaced by blockchain, and custodian becomes the center of the universe.”

OTCXN network has been expanding its institutional investors' list. Earlier this year, BitcoinExchangeGuide reported a story about Sydney based crypto exchange Independent Reserve partnering with OTCXN. All this is to ensure that they are able to increase the liquidity for the companies growing client base.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide