Coincheck Adds XRP and Ethereum to Its OTC Trading Desk

| Updated
by Teuta Franjkovic · 4 min read
Coincheck Adds XRP and Ethereum to Its OTC Trading Desk
Photo: QuoteInspector

Coincheck, a Japanese cryptocurrency exchange has launched its Over-the-counter (OTC) trading desk wherein the platform is debuting XRP and ETH as the first altcoin listing.

Coincheck, which began operating its OTC service with Bitcoin (BTC) at the start of the month, now made the announcement on the addition of two more coins to the desk- XRP and Ethereum. The company said in Twitter:

“ETH XRP has been added to the target currency for large OTC transactions! We are pleased to announce that ETH and XRP have been newly added as target currencies at the Large OTC Trading Service, which has started on April 1, 2019.”

While the exchange announces two altcoin listing, it doesn’t reveal at what priority will be given. They also said they will consider adding further altcoins to its OTC desk in due course.

It is worth to note that the exchange last year was involved in a half billion dollar hack incident but it was able to continue operation in Japan after it was acquired by an online broker ‘Monex Group’ in April 2018. Moreover, it succeeded Japanese regulatory license for Coincheck in December 2018 which enabled exchange gain user’s trust.

The minimum amount of Bitcoin OTC investors can trade on Coincheck is currently set at 20 BTC. Recommended trading amounts go as high as 225 BTC, which is worth about $1.15 million at time of publishing.

For Ethereum, the minimum over-the-counter trade is set at 500 ETH, worth about $82,500. With XRP, the minimum is currently set at 250,000 XRP, worth about $81,600.

Vitalik Buterin: Ethereum 2.0 Has Not Been Delayed By Even a Single Day

Vitalik Buterin, the Creator of Ethereum, recently spoke about the development surrounding Ethereum 2.0, the final stage of Ethereum, on a Reddit thread dedicated to him.

Yagan, a Redditor, stated that Vitalik Buterin had proved that he was “determined to move forward as a person and as a leader” irrespective of the FUD surrounding Ethereum over the past several months.

The Redditor stated:

“Cheers to Vitalik and cheers to his supporters. Cheers to ethereum and cheers to the community that can see the ‘bigger picture’. Congrats on all you have accomplished Vitalik and thank you for being an inspiration to many.”

To this, another Redditor with the username Dont_hate_scienceguy, replied stating that he would sell-out his coins, the day Buterin exits the Ethereum ecosystem. He also added that he has “never had less faith in the [Ethereum] team, than I do after this dothereum nonsense”.

This comment caught the attention of Buterin as he replied to the Reddit user by stating that the “the team” in question was “larger and broader” than thought. He said:

“While I get frustrated with the antics of the “chattering classes” myself, it’s important to keep in mind that Prysmatic, lighthouse, the eth2 research team, etc etc are all continuing work right on schedule, and the recent governance noises, while loud and annoying, did not delay the progress of eth2 by even a single day.”

Buterin further stated that even State Channel, Plasma, ZK roll-up, and 1.x rent proposals were “steadily moving forward”:

“[…] a huge victory a few months ago in dropping uncle rates as well as constant improvements in block propagation. When you’re making a bet on the ethereum ecosystem, it’s those silent armies you are betting on.”

Vitalik Buterin has consistently managed to keep the Ethereum community up to date with progress and continuously reiterated the importance of the team remaining together.

The possibility of an Ethereum fork would certainly bring unwanted disruption to the community and followers of the ETH project would like to be reassured that Ethereum 2.0 does not result in any delay.

Speaking at the Ethereum Foundation EDCON Press Conference just a few days ago, Buterin was asked: ‘why should people bring their attention back to Ethereum?’ He answered:

“We are just continuing to build things. Right now there are more things to build with and build on top of than there have ever been before and I expect there to be more over the next few months.”

Altcoin News, Cryptocurrency news, Ethereum News, News, XRP News
Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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