Blockchain.com, the popular cryptocurrency wallet provider, has launched an over the counter (OTC) trading desk as part of its plans to attract institutional investors. The company already offers custodial services tailored to serve the needs of clients such as hedge funds and asset managers. The move will allow Blockchain to conduct large private crypto trades outside of public exchanges.

Former DRW fixed-income trader, Vince Machi, is running the new OTC desk, according to a source familiar with the development, quoted by The Block. The news comes after earlier reports that Jamie Selway, the former head of electronic brokerage and execution services at Investment Technology Group (ITG), has taken responsibility for Blockchain's institutional efforts.

A number of companies in the space already provide OTC services, including DRW and DV Trading as well as established cryptocurrency exchanges such as Kraken and Itbit. Blockchain.com claims to have 28 million downloads of its wallet offered as part of its retail business.

Shapeshift Announces the New Coincap Tracker

Digital asset exchange Shapeshift has announced the relaunch of its cryptocurrency tracker, Coincap. The rebuilt platform now offers users new features and functions for tracking and interacting with global pricing data for cryptocurrencies and tokens, the company said in a blog post. Coincap, which is one of the alternatives to Coinmarketcap, offers real-time market data for these assets, including market capitalization, 24-hour coin and exchange volume, and available supply. It supports more than 1,000 cryptocurrencies and uses information from over 65 crypto trading platforms.