Poloniex, a subsidiary of Circle and one of the world’s largest exchanges by trading volume, has announced the launch of new services for institutional customers. Such a move will help the exchange to compete against such leading crypto exchanges as Coinbase or Binance, where the focus on institutions is getting stronger.
Institutional accounts are now available on Poloniex! Learn more about Poloniex for institutions and open an account today https://t.co/04VObkLPrf
— Poloniex Exchange (@Poloniex) December 4, 2018
According to the exchange’s announcement, investors will now be able to access the large curated selection of crypto asset trading pairs, dedicated support, and robust API services. What is more, Poloniex promises its customers to eliminate fees on BTC/USDC trades this month with a view to increase the trading volume of this pair and add to the number of users trading with the USD Coin, created by Circle, the owner of Poloniex.
The aim behind the Poloniex’ initiative is to help professional investors of different sizes gain exposure to crypto assets via a compliant platform. By using a seamless connection to infrastructure through dedicated APIs, Poloniex enables institutional operators to trade crypto assets while maintaining their existing user interfaces.
The exchange commented:
“Poloniex is focused on meeting the advanced trading needs of institutions. We offer higher withdrawal limits and professional customer support from a dedicated team of Account Managers in our Client Services department.”
Further, Poloniex said:
“Our highly trained team will guide each institutional customer through the onboarding process, coordinate issue resolution across multiple teams and support ongoing trading activities.”
Exchanges to Appeal to Institutional Investors
The new offering of Poloniex follows other popular exchanges that want to appeal to institutional investors. During this year, digital currency platforms have been trying to draw the attention of institutional and wealthy investors by working on the creation of necessary infrastructure.
In 2017, the market experienced a bull run created by retail investors, however, this year is not very good for digital coins. Their prices are very unstable. Institutions and traditional investors could help Bitcoin and other cryptos recover and start a new bull market in 2019.
One of the latest exchanges to target institutional investors is Coinbase, the world’s leading digital currency exchange and one of the most prominent companies in the crypto industry. Coinbase launched an over-the-counter trading desk that enables customers to benefit from lower volatility. The new service allows not only “trade on a proprietary basis,” but also “match client orders,” which results in lower fees and lower settlement times.
The Intercontinental Exchange (ICE), in it’s turn, is planning to release Bakkt platform. Backed by such corporate heavyweights as Microsoft and Starbucks, Bakkt is described as “scalable on-ramp for institutional, merchant, and consumer participation in digital assets by promoting greater efficiency, security, and utility,” and is expected to be a revolutionary solution for the whole cryptocurrency world.