RATE Group | Behind Coinbase’s quiet roll-out of OTC trading this month 
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Behind Coinbase’s quiet roll-out of OTC trading this month 

01 Dec Behind Coinbase’s quiet roll-out of OTC trading this month 

Posted at 10:04h in Cryptocurrency News by

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Coinbase is best-known for the popular U.S. cryptocurrency exchange that was on-boarding as many as 50,000 retail accounts per day during the crypto boom last year. But although it took off with ordinary investors, many institutions weren’t as eager to use it, according to Christine Sandler, the head of institutional sales.

The OTC “soft launch” began with a small network of clients like asset management firms. Sandler announced it in an interview with Cheddar this week. But she said it was important to debut it slowly with a ring of trusted institutions before they “blanketed the Earth” with a new product.

Sandler, who was head of electronic equity sales at Merrill Lynch and later Barclays during her 30-year career on Wall Street, described OTC as giving “an extra pair of hands” to facilitate a trade.

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