Europe

UK Start-up to Launch New Market for Bitcoin

London-based Coinfloor is setting up an over-the-counter market for Bitcoin. The market will aim at investors and growing interest from hedge funds and investment banks, according to The Independent.

"We’re seeing a lot of demand… Most of the Bitcoin liquidity is happening off books – it’s a similar problem to the equities market, where you see a lot of these orders happening on dark pools,” Mark Lamb, Coinfloor’s chief executive said.

The company will partner with a Financial Conduct Authority-regulated trading firm.  They will help financial institutions meet bulk orders by buying and holding Bitcoin. This will ensure investors can get the currency when they need it.

"We are seeing growing interest from institutions, especially hedge funds. We’ve had interest from some investment banks in Europe as well,” Tom Robinson, director of the UK Digital Currency Association said.

 

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