Binance Labs invests $3M in crypto trading desk Koi Trading

Binance Labs, a blockchain technology incubator, has made an investment worth $3 million in US over-the-counter (OTC) cryptocurrency trading desk Koi Trading, CCN reported.

Koi Trading is an OTC trading platform that offers a private, efficient, and compliant pathway for institutional investors and high net-worth individuals to start engaging with blockchain assets. The company also provides assistance in the area of data science, quantitative research, and compliance consulting work.

In the past couple of weeks, Binance Labs has extended its support to a number of blockchain startups including Cred, Republic, Oasis Labs, Terra, MobileCoin, and Certik, among others.

“Koi Trading’s mission is to bridge fiat and cryptocurrencies in a compliant manner. This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of value exchange globally,” Head of Binance Labs Ella Zhang.

Founded in 2018, Koi Trading is headquartered in San Francisco with satellite offices in Hong Kong and Europe.

“Our team of experienced traders and sales personnel will join forces to tap into vast networks of counterparties in North America, Asia and the EU, bridging the gap that divides the current OTC landscape,” Koi CEO and founder Hao Chen.

Chen added that with Koi Trading’s robust AML program, extensive banking relations in the US, and strong trust amongst counterparties in the Greater China, coupled with the recent investment from Binance Labs, the company “aims to be the market nexus that reduces trust and information asymmetry and improves cryptocurrency OTC deal close rate.”