Matrix, a virtual asset trading platform, MTF and Custodian is adding block trading to its list of premier services for trading professionals and market counterparties. The virtual asset platform also announces support for trading in the USDC stablecoin. The service update and stablecoin launch continues Matrix’s promise to offer both small and large-scale traders regulated versatility.
Block trades have been prominent in traditional finance prior to their introduction into cryptocurrency trading. Block trading enables traders and investors to conduct high-volume transactions, typically utilizing an intermediary. On the Matrix platform, traders looking to conduct a large-scale transaction can execute the block trade by issuing a request for a quote (RFQ). The platform will broadcast the RFQ to multiple counterparties, including some of the largest global trading desks, who offer competitive prices for the desired virtual asset based on the requested quantity. The best offer is then displayed to the customer for a seamless trading experience.
Prior to launching the Block Trading RFQ service, Matrix ran a consultation period which allowed the public to share their views on the proposed amendments to Matrix’s Market Rulebook as published on the company’s website. They integrated this feedback into the final Block Trading RFQ service going live.
USD Coin (USDC) is a fully reserved fiat-backed stablecoin pegged to the US dollar and issued by Circle, one of the largest stablecoin ecosystems in the world. It has proved extremely resilient despite the drama surrounding other stablecoins.
Users can purchase or trade USDC without paying trading fees for a limited time. This expands users’ access to the blockchain ecosystem by giving them an opportunity to secure a foothold on some of the most popular blockchains as well as safe haven, non-volatile assets to move their capital into between trades.
“As we continue to grow our secure and regulated platform for retail and corporate investors, I am proud to announce that we are adding support for USDC trading as well as a RFQ block trading service,” says Vasja Zupan, President of Matrix. “USDC has proven to be a solid stablecoin over the years and is a great addition to our virtual asset offering. RFQ block trading has been one of our most requested features and it will give the professional investment community a powerful trading tool powered by instant quotes from liquidity providers around the globe.”
Based in Abu Dhabi, Matrix is a globally operated and regulated Multilateral Trading Facility and Custodian that is dedicated to providing a compliant, secure, and fast virtual asset trading experience. Matrix has obtained its license from the Abu Dhabi Global Market (ADGM) in relation to Virtual Assets. Matrix provides AML/KYC compliance, regulatory oversight, and offline storage to secure the platform and users, as well as multi-node disaster tolerance, remote disaster recovery, and multi-server switching to ensure stability and reliability of the trading system. By leveraging its high-performance core matching engine, Matrix is able to undertake large volumes of trading orders. Matrix is one of the few global trading venues providing support for global fiat deposits, enabling faster trading. For more information, visit https://www.matrix.co/