Institutional exchange launched in the US — TradingView News

Crypto.com, a major global cryptocurrency exchange, has expanded its presence in the United States by launching institutional services.

Institutional crypto exchange in the United States

It was announced yesterday (Tuesday) that the exchange will operate under the Crypto.com Exchange brand, offering institutional services. The company already serves retail users in the United States. Chris Marszalek, CEO of Crypto.com, Source: LinkedIn

“Since testing an early version of the Crypto.com exchange in the US in 2022, we have made significant investments in the exchange’s technology capabilities and banking infrastructure, resulting in significant global growth and positioning ourselves as the leading cryptocurrency exchange backing the US dollar.” said Chris Marszalek, co-founder and CEO of Crypto.com.

“We’ve taken the time to build the best possible product for enterprise and advanced users around the world, and we’re excited to now fully offer it in the market we remain bullish on – the US.”

Coinbase Leadership Challenge

The launch of the institutional exchange comes at a time when several US companies are exploring the idea of ​​adding Bitcoin to their reserves. Microstrategy alone holds 461,000 bitcoins, worth about $48.5 billion. Other US companies that own Bitcoin include Tesla and Coinbase.

Interestingly, shareholders in technology companies such as Microsoft, Amazon, and Meta also suggested that these companies should consider holding Bitcoin reserves.

While Coinbase dominates the US cryptocurrency market in both the retail and institutional sectors, global players like Crypto.com are gradually challenging its position.

According to the announcement, the Crypto.com exchange will enable institutions to trade more than 300 cryptocurrencies and 480 trading pairs. The platform is designed to accommodate both active traders and passive users.

In addition, the exchange will provide instant transfers to institutional clients via CUBIX and offer OTC trading services powered by FIX 4.4, WebSockets and REST APIs. Customers can fund their accounts through direct Fedwire transfers from local bank accounts.

Meanwhile, Crypto.com is expanding its reach outside the US. Last November, it acquired an Australian-licensed CFD broker and recently obtained an initial cryptocurrency license from the Malta regulator.