14 Nov '17, 8pm

A US trading firm is setting up shop in Singapore to dominate the bitcoin market in Asia

A US trading firm is setting up shop in Singapore to dominate the bitcoin market in Asia

DRW, the Chicago-based trading firm, is expanding its bitcoin trading operations into Asia. The firm told Business Insider it sees a huge opportunity in Asia for over-the-counter trading. The Asian-outpost will be based in Singapore, but will serve all of Asia and enable the firm to operate as global, around-the-clock, business. DRW, a Chicago-based firm, is looking to set up a bitcoin trading desk in Singapore to dominate the cryptocurrency market in Asia. The firm has been in the bitcoin game since 2014 via its division Cumberland Mining, which already operates over-the-counter bitcoin trading desks in Chicago and London. Bobby Cho, the head of over-the-counter trading for Cumberland, told Business Insider the firm is preparing to start up operations in Singapore well-before year-end. "Asia is a big opportunity for us," Cho said. "We dominate the market in the US and we ...

Full article: http://www.businessinsider.de/drw-is-setting-up-shop-in-a...

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