Singapore Fintech Festival 2018 Opens with a Bang! and OTC for Bitcoin on the rise.

Yesterday marked the opening of Singapore Fintech Festival 2018, the worlds Largest and most Impactful Platform for the Global Fintech Industry covering sectors of People Identity, Payments and Blockchain.

In the Blockchain Panel, the conversation focused on the very much deflated ICO market and the focus for investors placing full scrutiny only on Projects that have real potential, credibility, backing, and other factors, the Hype no longer works although the market of course is by no means dead, just the scams, cowboys and trash are very much reduced which is agreed as a good thing and the genuine investment opportunities are much clearer although caution is still required- see the following market reports from ICO bench https://goo.gl/J2nY3c

Despite reported prices of Bitcoin reducing throughout the year, (yet still 6x its price 18 months ago!) this data is taken from Exchanges utilized by mass market small traders, such as Binance, Coinbase etc and does not include transactions of large volume by Ultra High Net worth Individuals and Institutions which may need to trade volumes of USD $1m-$50m per Bitcoin Transaction and the 100's of readily available Cryptocurrency Exchanges can not handle the volume without significant loss for the Seller / or Buyer as prices go volatile and market turmoil ensuing with exchanges most likely crashing. The same has been true of traditional stocks and shares hence much of that market - estimated at over 40% is traded OTC (Over The Counter). The OTC market for Bitcoin is burgeoning and is seeing volumes estimated at double to four times the visible market, see the following report from Forbes https://goo.gl/VDTnCa

However the Bitcoin Market is still small at an estimated 250 times smaller the the market for Gold for example, with barriers for many Institutions entering the Bitcoin OTC market being Security, regulatory protection, fully backed Banker Guarantees, and an easy flow personalized service (often parties cannot agree on banks and other factors), ease of multi jurisdiction Banks talking to each other and a professional personalized services. A bigger issue in the Blockchain space are for investors of ICO projects that have large volumes of ALT coins and find there are very few options of Directly trading them OTC and require converting them to Bitcoin and incurring multiple charges in transaction fees and loss of value and security given the tremendous volumes

There is now an emerging solution from FOExCOR OTC Cryptocurrency Trading Solutions for deals of $1m to $50m BTC / Altcoin with the Exchange at Institutional Grade, deep liquidity. 24/7 personalized service, full Banker Guarantees across Markets, and security by BitGo (which was heavily invested in recently by Goldman Sachs) – whitepaper here https://goo.gl/xCSvPg

Want to know more PM me.