ItBit, a N.Y. State-licensed trust company, provides bitcoin trading, OTC brokerage and custody services to institutions and professionals.
|Headquarters||New York City|
|Key People||Charles Cascarilla, Founder and CEO|
|Products||Bitcoin exchange and broker; custody services|
ItBit, organized as a subsidiary of Paxos, offers institutional and professional traders a crypto-asset trading platform (CTP) as well as OTC brokerage services. It also offers bitcoin custody services in its regulated trust company.
As of mid March 2019, ItBit was the 86th largest CTP in the world ranked by trading volume, according to CoinMarketCap, an online industry data aggregator and reporting service. ItBit lists cryptocurrency pairs including only Ether and bitcoin.
ItBit was the first CTP registered by the New York State Department of Financial Services when it received its trust license on May 15, 2015. In June 2019, ItBit was ranked sixth by CryptoCompare, which among other things provides a multi-dimensional ranking of CTPs' market quality.
At about the same time as the reorganization, itBit shed a couple of prominent alumni - Daniel Kim, who took a position at Gemini Exchange and Bobby Cho, who left to head Cumberland Mining Materials.
CME Group announced on May 2, 2016, that it would include bitcoin prices from ItBit trading in its daily Bitcoin Reference Rate as well as its Real Time Index. The indexes are calculated by Kraken's London-based Crypto Facilities.
On June 14, 2018 itBit announced that New York Department of Financial Services had granted it permission to expand its trading and custody services to bitcoin cash, litecoin, ethereum, and stellar lumens.
- Homepage. itBit.
- 24 Hour Volume Rankings (Exchange). CoinMarketCap.
- Bitcoin Exchange Receives First License in New York State. New York Times.
- Exchanges. CryptoCompare.
- ItBit Rebrands as Paxos Amid Blockchain Pivot. Coindesk.
- ItBit Hit With String of Departures in Bitcoin-to-Blockchain Transition. Coindesk.
- CME Group and Crypto Facilities Announce Launch of Bitcoin Reference Rate and Real-Time Index. CME Group.
- itBit Now Offers Ethereum, Bitcoin Cash, Litecoin and Stellar Lumens. itBit.
- Institutional Investors Swap Bitcoin Futures for Physical BTC in Wall Street First. CCN.
- CME CF Ether-Dollar Reference Rate & CME CF Ether-Dollar Real-Time Index. CME Group.