https://blockonomi.com/how-crypto-otc-trading-became-institutional-market-infrastructure/
Crypto OTC trading started with a simple problem: large orders were difficult to execute on public exchanges without moving the market. For early institutional participants, a desk that could provide a firm quote, source liquidity and settle reliably solved a very real execution challenge. That core use case still matters…

How Crypto OTC Trading Became Institutional Market Infrastructure
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