The top cryptocurrency exchange and Web3 provider, Bitget, has introduced its new over-the-counter (OTC) fiat platform for block trading.
For fiat to cryptocurrency and vice versa settlements, the service presently supports Euros (EUR), Pounds (GBP), and US Dollars (USD). Soon, it will also support Turkish Lira (TRY), Brazilian Real (BRL), and South African Rand (ZAR).
This new product offers increased privacy, wider liquidity, and faster settlements for large-order trading, appealing to both professional and institutional cryptocurrency traders.
Trading over-the-counter, or OTC, is crucial for individuals who want to minimize the effect of blocked trades on the market. It ensures that big transactions don't affect open market prices by offering individualized, safe services.
Regardless of order size, Bitget's OTC service is unique in that it provides competitive quotes, safe clearing, and expert execution throughout the transaction process.
Bitget Fiat OTC has also developed an advanced security firewall that protects the assets of its clients by utilizing cutting-edge Multi-Party Computation (MPC) technology. Clients are guaranteed a high level of privacy as transaction data is kept confidential and not made public.
In order to maintain an extra degree of security and confidence for its clients, Bitget Fiat OTC does not keep custody of fiat or cryptocurrency assets.
A major milestone
Gracy Chen, Chief Executive Officer (CEO) at Bitget, highlighted that the launch of Bitget's Fiat OTC service represents a major milestone in delivering secure and seamless traditional finance-like services to professional crypto traders.
The platform's improved security and advanced trading infrastructure have led to a notable increase in participation from pro-traders and crypto influencers. Furthermore, the compliant OTC desk is designed to provide top-tier customer support and trading solutions for their most valued users.
Moroever, Bitget OTC complies with Know Your Customer (KYC) regulations in a strict manner to adhere to international regulatory standards and prevent money laundering (AML) and terrorism financing (CFT). Real-time client transactions are tracked using sophisticated algorithm models, and any questionable activity is reported appropriately.
The combined liquidity pool, which is sourced from top exchanges and market makers, is accessible to OTC users. No matter the size of the order, Bitget OTC guarantees competitive prices that are near to the spot rate. Notably, there are no costs associated with processing, maintenance, or account opening, which makes the service affordable for high volume traders.
To ensure a flawless trading experience, Bitget's team of professional advisors provides clients with round-the-clock, one-on-one service. To help customers get started with the OTC trading service as soon as possible, a help center and service hotline are available. After a trade is confirmed, there is no need for third parties and settlement happens immediately.
Lastly, Bitget OTC offers an inclusive price within the bid and has a minimum trade size of $100,000 USD or EUR. There is no maximum limit on trades or trading fees. Users must have a verified Pro-level OTC-specific Bitget account in order to access the OTC service.
Professional investors looking for a private, secure, and effective trading solution can use Bitget's exclusive Fiat OTC service, which provides top-notch services that guarantee smooth conversions between fiat and cryptocurrency.
About Bitget
Bitget is a Web3 company and the top cryptocurrency exchange in the world, founded in 2018. With its innovative copy trading feature and other trading solutions, the Bitget exchange, which serves over 25 million users across more than 100 countries and regions, is dedicated to assisting users in trading more intelligently.
Formerly known as BitKeep, Bitget Wallet is a top-notch multi-chain cryptocurrency wallet that provides a wide range of feature-rich Web3 solutions, such as swap, NFT Marketplace, DApp browser, and wallet functionality.