OTCXN, a blockchain-powered capital markets infrastructure company, announced that OSL, an OTC digital asset brokerage company in Asia-Pacific, has joined its network as a liquidity provider.
“We are extremely pleased to have OSL join our network as a core liquidity provider. Having a major market participant like OSL providing liquidity on our network is a testament to the strength of our core value proposition – eliminating trading counterparty and settlement risk. The presence of key market participants like OSL accelerates market adoption and expansion of the OTCXN network to reduce risks and efficiently scale crypto trading across the entire ecosystem. We look forward to working closely with OSL to serve our mutual clients,” says Rosario Ingargiola, CEO and founder of OTCXN.
“At OSL, we are looking forward to enjoying the important benefits of the OTCXN network, one of the most impactful institutional infrastructure solutions that the cryptocurrency ecosystem requires to scale. As we continue to grow our business globally, we welcome the elimination of counterparty and settlement risk that OTCXN brings, along with increased capital efficiency and collateral safety,” adds Ryan Rabaglia, head of trading for OSL.
In early Q1, OTCXN plans to launch its matching engine, LiquiMatch, as both a dark pool and lit central limit orderbook hybrid ECN for cryptocurrencies. Clients on the network will be able to trade on liquidity across all OTCXN trading platforms, including the existing OTC block trading venue, via a single collateral account at their preferred custodian.
In addition to handling native dark and lit orders, LiquiMatch will aggregate market makers’ streaming executable quotes, as well as external exchange liquidity, all of which should be tradable without a direct financial relationship with each counterparty or placing assets at the underlying exchanges.