Huobi Brokerage, a digital asset brokerage platform from global blockchain company Huobi Group, announced two new request-for-quote (RFQ) features which will allow traders to send real-time messages and access digital assets both electronically and via chat trading, enabling them to perform large-volume block trades with the best execution price and settlement flexibility possible.
Trading large amounts of digital assets has been challenging for many users in the cryptocurrency industry. Additional costs are always incurred while making large transactions due to limitations like exchanges’ order book depths and probably their imposed trading and withdrawal limits as well. This uncertainty has limited institutional traders’ involvement, as well as HNWIs who would like to get into the market.
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“While there is steady activity in the cryptocurrency market, that activity is often limited to a select audience of crypto traders, many of whom have been actively involved in the industry for some time,” said Ciara Sun, Head of Global Markets at Huobi Group. “To expand our reach as an industry and bring cryptocurrency to the mainstream, we need the support and involvement of institutional investors.”
Electronic trading has become a popular way for users to initiate transactions, as all executions can now be done online, with a lower cost and undoubtedly more user-friendly, which in returns makes overall trading easier for both investors and exchanges to communicate and comply with regulatory requirements, as the process is automated. However, voice trading is still the preferred form of communication between many traders and their clients.
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