Wintermute Expands to US, Eyes OTC Trading in New York

Crypto market maker Wintermute is set to expand its operations into the United States, with plans to open a new office in New York and introduce over-the-counter (OTC) trading products. The company, which is one of the largest liquidity providers in the cryptocurrency market, has offices in London and Singapore and employs over 100 people.

Wintermute's CEO, Evgeny Gaevoy, has expressed a new focus on the U.S. market, stating that the company is looking to expand its OTC offering and derivatives offering in the country. This expansion is driven by optimism on potential regulatory changes in the U.S. under the current administration.

Wintermute is not alone in its plans to expand into the U.S. market. Other crypto firms, such as Blockchain.com, Circle, Kraken, Gemini, Ripple, and BitGo, are also considering U.S. expansion or initial public offerings (IPOs). Bullish Global, the parent company of CoinDesk, is also rumored to be considering an IPO.

The new Wintermute office in New York is expected to open later this year, with an initial team of between five and 10 employees. Gaevoy has stated that the company will not be conducting trading activities out of the new office.