Leading cryptocurrency liquidity provider, B2C2 announced on Wednesday; it will provide a new source of liquidity for hedge funds, asset managers, high net worth individuals, and family offices, in partnership with SFOX, a crypto prime dealer.
The partnership is purported to allow different market participants to access B2C2’s real-time OTC pricing, said Max Boonen, the founder of B2C2, who further noted that digital asset class has been trading off-exchange, which results in deeper liquidity.
With the collaboration today, the liquidity provider will reportedly integrate its over-the-counter (OTC) trading venue onto the partner’s platform, thereby giving SFOX clients, which includes traders, investors, fund managers, and family offices, access to the deep pool of liquidity it offers.
Moreso, the report noted that SFOX clients would be able to view OTC pricing from a single point of access, which means they no longer have to worry about managing API keys or several exchange accounts.
Institutional Market Participants Relies on B2C2 OTC Pricing
While commenting on the development, the Head of Growth at SFOX, Danny Kim, said:
“We are delighted to partner with B2C2, the largest OTC liquidity provider whose streaming pricing and electronic trading capabilities are relied on by institutional market participants globally.
Given that the full set of trading algorithms from the cryptocurrency prime dealer can execute against B2C2’sB2C2’s prices, SFOX clients, therefore, can be able to benefit from a new source of OTC liquidity, as well as more significant price discovery.
Meanwhile, following the announcement today, B2C2 is the first over-the-counter trading venue to be supported on the SFOX platform. Crypto OTC markets reportedly gained market share from traditional exchanges, over the past three years.
Based on the notice that digital currency markets are growing continually, with several investors awaiting institutional-grade services, Aite Group1 suggested in a report that over-the-counter activity will account for most of the digital currency trading volume very soon.
Lately, AirSwap launched a tool to enable OTC trades to correspond with direct cryptocurrency exchanges, without any third-party, as Cryptoknowmics reported.