U.S. cryptocurrency exchange Poloniex has launched a dedicated offering for institutional traders, the company announced in a blog post Dec. 4.
Poloniex, which merged with financial services company Circle in February this year, currently ranks 47th in the world among crypto exchanges by trade volume.
The exchange joins an increasing array of operators looking to service the institutional market, a segment of cryptocurrency traders commentators have tipped to become a major force behind shoring up asset prices next year.
“Institutions large and small can enjoy the benefits of our large curated selection of crypto asset trading pairs, dedicated support and robust API services,” the company’s blog post claimed:
“…Poloniex is focused on meeting the advanced trading needs of institutions.”
Those using the new service will be able to do so subject to a minimum trade of $250,000.
Along with the launch, the company will also jettison fees for all traders of BTC/USDC for the month of December.
Despite Bitcoin (BTC) and altcoin prices continuing to trend downwards in recent weeks and months, interest from institutional sources continues to emerge.
In addition to industry giants such as Coinbase, non-crypto entities including Fidelity Investments, Intercontinental Exchange have signalled a commitment to serving the crypto sector.
A report in October revealed institutional investors had become the largest buyers of crypto transactions over $100,000, replacing high net worth individuals at the top of the chart.