Boutique Brokerage Nukkleus Capital to Open an OTC Crypto Trading Desk and Bitcoin Exchange

Nukkleus Capital, a US-based boutique brokerage firm has revealed that they expect to be launching an over-the-counter (OTC) cryptocurrency trading desk soon. They also added that they are going to launch a crypto exchange called NukkX before the first quarter of 2019 ends.

Nukkleus Inc., a financial technology company, focuses on providing software and technology solutions for retail foreign exchange trading industry worldwide. It primarily offers customer sales and marketing, and risk management technology hardware and software solutions. The company was formerly known as Compliance & Risk Management Solutions Inc. and changed its name to Nukkleus Inc. The company was founded in 2013 and is headquartered in Jersey City, New Jersey.

The recent move by the brokerage firm is to target institutional investors admitted Joe Tuccio, the Global Head of Digital Asset Management at the company. He is going to lead the efforts of Nukkleus Capital owing to his prior experience as the Head of Business Development for Noble Bank.

He stated:

“We are trying to bridge the gap between the institutional world and the retail crypto world. If we can help build a streamlined product that replicates other financial markets offerings, I feel this market will flourish and mature. The recent commitments of major institutions like Bakkt, ICE, Fidelity, and ErisX demonstrate that a formidable foundation of this new asset class is being soundly laid which will bring confidence to traditional capital market participants to deepen digital asset liquidity across products.”

Their target for OTC desk will be the clients from the various companies who make up the buy-side of the financial services industry which includes hedge funds, asset managers, family offices and HNWIs.

To assure the institutional investors, who are generally wary about cryptos, they are using Prime Trust, a technology company as their in house custodial services.

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