Jump Trading OTC Electronic Bitcoin Exchange Platform For Large Transactions
Curiosity in the innovative technology used in creating cryptocurrencies have had many trading firms making large crypto trades over the phone. This, according to Jump Trading, is very outdated. To avoid it altogether, the Chicago-based firm will be creating, what’s referred to as the OTC platform, where trades can finally be made electronically.
According to sources close to Jump Trading, graphic user interfaces (GUIs) will be implemented to promote an easier way to trade cryptocurrencies among the parties involved. In particular, the inclusion of GUIs will promote communication with Jump on a desktop, while entirely eliminating the need to connect through exchanges.
An individual who shares similar views as Jump strongly believes that the company is earnestly considering the potential cryptocurrencies has and will have in the near future. In addition, the individual believes that the firm does not support chatrooms as a platform to discuss all matters crypto, because it hardly leaves an understandable or traceable record.
Many were surprised to see what Jump was capable of, especially with an existing concept like GUIs. Michael Dunworth, CEO of Wyre, recently told Business Insider that he was “impressed that Jump built it”. He also stated that, “It’s without doubt maturing just by the fact that there’s so many OTC desks out in the mix.”
The attempts made by Jump can redefine the way in which crypto investment funds are operated, as more funds are being introduced. According to research conducted by the Crypto Fund Research, there are 366 crypto investment funds worldwide, with a fifth of them launched in 2018 alone – see there other story here.