The South Korean cryptocurrency exchange giant Bithumb has officially entered the institutional crypto trading space with the launch of Ortus, a new over-the-counter (OTC) trading platform tailored for high-net-worth investors and institutional clients.
Operated by Bithumb Global Limited, a Hong Kong-based subsidiary of Bithumb, Ortus aims to provide seamless, secure, and private large-volume cryptocurrency transactions outside of traditional exchange order books. This strategic move marks Bithumb’s first significant expansion beyond its dominant domestic market in South Korea.
With growing global demand for institutional-grade crypto infrastructure, OTC platforms have become essential tools for hedge funds, family offices, and asset managers seeking to minimize market impact and maintain confidentiality during large trades.
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The Rise of Cryptocurrency OTC Trading
Over-the-counter trading has long been a cornerstone of traditional financial markets—and now it's playing an increasingly vital role in digital asset ecosystems.
Unlike spot exchanges where prices are publicly visible and trades executed instantly, OTC desks facilitate direct negotiations between buyers and sellers. This model is especially attractive for executing large block trades without triggering price volatility.
According to research from TABB Group, Bitcoin’s daily OTC trading volume reached $12 billion in April of last year—on par with centralized exchange volumes at the time. By August, OTC activity had surged to two to three times that of on-exchange volumes.
Eric Wall, a noted cryptocurrency researcher, highlighted this shift:
“The report shows OTC volumes are 2–3x higher than exchange-traded volumes. That means 1 to 1.5 million BTC are changing hands off-exchange every day—while only about 100,000 BTC appear in on-chain transaction records.”
This discrepancy underscores a key reality: much of the crypto market’s real activity happens behind the scenes. Many institutional buyers receive assets directly into cold wallets, leaving no public footprint on the blockchain.
Why Institutions Prefer OTC Platforms
For institutional players, OTC trading offers several critical advantages:
- Price Stability: Avoid slippage caused by large market orders.
- Privacy: Keep trading intentions confidential to prevent front-running.
- Flexibility: Negotiate custom terms, settlement times, and asset pairs.
- Security: Use trusted intermediaries to reduce counterparty risk.
As a result, nearly all top-tier exchanges have expanded into OTC services. Platforms like Huobi, OKX, Bit-Z, and Coinbase Prime have established dedicated OTC desks. Even Binance launched its own OTC platform earlier this year, signaling strong demand across regions.
Circle, the U.S.-based crypto financial services firm, reported triple-digit year-on-year growth in its OTC business—further evidence of accelerating institutional adoption.
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Bithumb’s Strategic Move with Ortus
Bithumb’s entry into the OTC space through Ortus reflects a broader ambition to position itself as a global player in digital asset markets. While Bithumb remains one of the most active exchanges in Asia by trading volume, its international expansion has been cautious.
Ortus operates under the brand name licensed to Bithumb Global Limited, which emphasizes its focus on serving international clients. However, there appears to be some ambiguity around Bithumb’s direct involvement.
A representative from BTCKorea.com, Bithumb’s parent company, told CoinDesk Korea:
“Ortus is not directly affiliated with Bithumb. It’s a partner company that pays to use the Bithumb brand. Bithumb itself does not operate an actual OTC trading platform.”
Yet, an official press release from Bithumb Global Limited states clearly:
“Bithumb Global Limited, a Hong Kong-based entity, announces the official launch of Ortus, offering institutional investors large-scale crypto trading services under the Ortus brand.”
This divergence suggests a deliberate effort by Bithumb to expand its global reach while maintaining regulatory distance—possibly due to ongoing compliance considerations or market-specific strategies.
Still, the launch represents a pivotal step toward building institutional credibility and accessing deeper liquidity pools beyond retail-driven markets.
Market Demand Driving Innovation
The proliferation of OTC platforms among major exchanges isn’t coincidental—it reflects real and growing demand.
Institutional interest in cryptocurrencies has evolved from speculative curiosity to serious portfolio allocation. With increasing regulatory clarity in certain jurisdictions and improved custody solutions, more traditional financial firms are entering the space.
OTC desks serve as on-ramps for these institutions, enabling them to acquire significant positions without disrupting markets. They also offer fiat-to-crypto gateways with KYC/AML compliance built in—essential for regulated entities.
Moreover, emerging markets with capital controls or limited banking access often rely on OTC channels to move value efficiently. This dual appeal—high-net-worth individuals and global institutions alike—makes OTC services a strategic asset for any exchange aiming for global relevance.
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Frequently Asked Questions (FAQ)
What is an OTC crypto trading platform?
An over-the-counter (OTC) crypto trading platform facilitates direct trades between two parties without using a public order book. These platforms are ideal for large transactions that could otherwise impact market prices if executed on open exchanges.
Why do institutions prefer OTC trading?
Institutions use OTC desks to avoid price slippage, maintain privacy, and execute large-volume trades securely. These platforms often provide personalized service, flexible settlement options, and enhanced security protocols.
Is Ortus operated by Bithumb directly?
While marketed under the Bithumb brand via its Hong Kong subsidiary Bithumb Global Limited, official statements suggest a licensing arrangement. Bithumb Korea has distanced itself operationally, indicating that while the brand is used, the core OTC operations may be managed separately.
How big is the crypto OTC market?
Estimates suggest that OTC trading volume rivals—and often exceeds—on-exchange volumes. At peak times, OTC activity can be two to three times larger than what’s visible on centralized exchanges.
Can retail investors use OTC platforms?
Most OTC desks cater exclusively to institutional clients or accredited investors due to high minimum trade sizes (often $100,000+). However, some platforms offer scaled-down services for high-net-worth individuals.
Why aren’t all OTC trades visible on the blockchain?
Many OTC transactions involve direct wallet transfers or custodial settlements that don’t appear as public trades. Additionally, buyers often receive crypto into cold storage immediately after purchase, leaving minimal on-chain traces.
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