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Coincheck Launches Bitcoin OTC Trading Desk To Cater Large-Scale Institutional Clients

The post also indicated that support for cryptocurrencies other than Bitcoin could be considered in the future. 

In November 2018, a major United States-based crypto exchange and wallet provider, Coinbase introduced its own OTC services for institutional clients and has managed to become a fully regulated broker-dealer by the U.S. Securities and Exchange Commission (SEC) last year.

Coincheck, suffered a massive $532 million hack in January 2018 and was subsequently acquired by Japanese broker Monex Group in mid-April of that year in a move to rehaul its shareholder composition and management. Coincheck has had taken a series of measures to improve its protection and trading systems and has reimbursed those customers affected by the hack. 

Under the new stewardship of Monex, Coincheck resumed crypto trading in mid-November 2018 and joined the Japan Network Security Association in a stated bid to restore its image. The exchange was granted an operating license from Japan’s Financial Services Agency in December 2018.

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