Goldman Sachs funded the Kryptos Startup Circle, which recently released a list of achievements for 2018. The company shows that in 2018, it executed over-the-counter (OTC) crypto-trading of $ 24 billion in nominal volume.
The numbers published by Circle point to the recent trend in the OTC space. In 2018, there was a real boom in Bitcoin OTC trading. Other key players, such as Coinbase, also show an increase in trading volume during the first OTC hours.
The $ 24 billion fictitious trade may even suggest that Circle has made more OTC trades than Coinbase and Greyscale (GBTC) combined.
Circle Trade executed:
- More than 10,000 OTC trades, with nearly
- 600 distinct counterparties, across
- 36 different crypto assets, and generated nearly
- $24 billion in notional volume
Circle also ventured into the Stablecoin Arena with the introduction of USD Coin (USDC). The result of this development was the consortium CENTER, a joint venture with San Francisco-based stock market giant Coinbase.
According to the announcement, USDC is now the second largest Fiat-backed Stablecoin after Tether with a market capitalization of more than $ 280 million. In 2019, the company will focus on building capacity for the crypto industry, regardless of market conditions.
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