Coindesk Logo

Crypto Exchange Poloniex Launches Institutional Trading Services

Crypto Exchange Poloniex Launches Institutional Trading Services

Crypto Exchange Poloniex Launches Institutional Trading Services

Poloniex announced it was opening institutional trading accounts as of Tuesday.

Poloniex announced it was opening institutional trading accounts as of Tuesday.

Poloniex announced it was opening institutional trading accounts as of Tuesday.

AccessTimeIconDec 4, 2018, 6:50 PM
Updated Aug 18, 2021, 10:22 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Crypto exchange Poloniex has announced the opening of trading services for institutional clients.

The company, which was acquired by payments firm Circle earlier this year, said Tuesday that it will begin offering institutional accounts, with support for different crypto trading pairs and API interfaces. The exchange will also provide no-fee transactions for all bitcoin/USD Coin trades in December.

As part of its new accounts, Circle is offering over-the-counter trading through Circle Trade, services through Poloniex and trading pairs with the USDC stablecoin, according to a registration page. Firms looking to participate in OTC trading must issue a minimum order size of $250,000.

In its announcement, Circle explained that it would offer institutional clients higher withdrawal limits, as well as "professional customer support."

"Our highly trained team will guide each institutional customer through the onboarding process, coordinate issue resolution across multiple teams and support ongoing trading activities," the firm explained

Circle and Poloniex join industry exchanges like Coinbase in offering services specifically for institutional traders. The latter exchange, which also offers USDC trading pairs, began rolling out custody services for its institutional clients in May.

More recently, Coinbase has also begun trialing an OTC trading desk, though the platform will not go live until early next year.

Market chart image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.