Malta-based crypto exchange Tokenomica announced on Tuesday the launch of an over-the-counter (OTC) trading desk.
This will enable traders in the continent to buy or sell Bitcoins with euros. The exchange has set a minimum transaction limit of 5 BTC while the upper limit has been set at 50 BTC while the trading fees have been set at 0,75 percent.
The announcement also highlighted that all the fiat deposits and withdrawals made on the platform will be completed using SEPA and SWIFT payment systems.
Unlike many OTC platforms, it is facilitating trades directly with fiat, not with some fiat-pegged digital currency, Tokenomica also pointed out.
More and more institutions inclining towards crypto
The demand for OTC desks is surging with the influx of institutional investors in the crypto space who usually make large transactions.
Transactions on the OTC desks are not made using any order books, meaning a third party usually fix deals directly between the trading parties who are willing to buy or sell assets. As the deals were made in a private space, the exchange prices of volatile digital assets remain intact as no major buyer or seller directly approaches the open market.
Many major crypto exchanges including Binance, , and Bithumb also operate OTC desks to attract lucrative institutions on their platform.
Notably, in China, most of the crypto trading takes place using following the blanket ban on centralized trading exchanges in 2017.
Regulated by Maltese laws, Tokenomica added support for euro last week, offering traders crypto-to-euro pairs.
The exchange also clarified that, apart from Bitcoin, it will add other digital currencies as well on its OTC platform.
Meanwhile, in the institutional crypto arena, B2C2, a cryptocurrency OTC liquidity provider to provide liquidity services to the high-volume investors.
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