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Wintermute, a global leader in algorithmic trading and liquidity provision for digital assets, has become the first platform to offer OTC trading to BUIDL tokens.
The CEO discussed this initiative in an interview on Bloomberg and highlighted why the company made the strategic move.
The move will ensure enhanced accessibility and liquidity of BUIDL tokens for institutions and venture-backed projects. Wintermute aims to bridge the liquidity gap and provide the crucial piece that completes the value chain by enabling BlackRock’s BUIDL to be traded more efficiently on secondary markets.
BUIDL token is highly demanded in the OTC market
During the interview, Wintermute CEO Gaevoy mentioned that the demand for the BUIDL token comes from institutional investors and crypto-native organizations like centralized exchanges that have leveraged cryptos for years and operate on blockchain. When institutions plan to acquire crypto, they require considerable liquidity and prefer tailored trading solutions that are lacking in most public exchanges.
BUIDL tokens encourage building and participation in the blockchain ecosystem. They are not merely speculation tokens. As high-net-worth individuals and institutions feel like venturing into it, OTC trading makes it easy for them to enter and exit positions.
Fully collateralized lending protocols can use the tokens to allow people to borrow against them. This clearly shows that traditional and crypto markets are converging.
Traditional markets borrow a lot from the crypto market, such as general compatibility between different players. The availability of OTC trading for BUIDL tokens aligns with Wintermute’s mission to bridge the gap between traditional finance and the emerging decentralized finance (DeFi) world.
Wintermute is keen on shaping the future of cryptocurrency
Wintermute’s quest to offer OTC for trading BUIDL shows the company’s intentions in shaping crypto markets. The firm has strategically offered its expertise in areas around exchange liquidity, DeFi, and institutional clients. It can support trading niche tokens that hold significant value for the crypto ecosystem.
Offering OTC service for a growing token class like BUIDL is not a walk in the park. It requires deep market insights and the capacity to analyze the market and the infrastructure. BUIDL has low liquidity compared to Ethereum and Bitcoin and is mostly tied to specific projects.
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