Kraken made an official Twitter announcement, September 17, stating it is expanding its services to Over-The-Counter block trading. The tweet from the announcement:
“Kraken is excited to announce a major expansion to our OTC trading platform which will enhance the execution of large block trades for clients worldwide. We offer deeper liquidity and private, personalized service to institutions and high net-worth individuals needing to fill large orders.“
Kraken has said the platform will now have an OTC desk where users can trade €100,000,000, $100,000 or even 2,000 BTC blocks. Kraken claims to have a discret, secure service that will help users settle block trades.
OTC is a market trading venue for entitiers such as equities and bonds rather than on a centralized exchange. Dealer networks enable OTC trading making it a distributed service.
An OTC block trade is the buying/selling bonds or equities where the price is decided between two parties in or out of the open market.