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Binance launches crypto-to-crypto OTC trading desk

Image: Shutterstock

Thu, 24 Jan 2019, 07:25 am UTC

Binance, the world’s largest cryptocurrency exchange in terms of 24-hour trading volume, has announced the launch of its crypto-to-crypto over-the-counter (OTC) trading desk.

“Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts,” Binance said.

In an online post, Binance said that the crypto-to-crypto OTC trading desk will offer a number of advantages including the ability to trade large quantities of cryptocurrencies in a single trade and reduce timed by clearing the trades at one price.

In addition, users will not be required to handle different wallet addresses as they will benefit from direct settlements into their Binance account with their OTC trades.

“We specialize in crypto-to-crypto trades, across more than 80 cryptocurrencies listed on Binance,” it said. “We constantly endeavor to offer quick pricing for your OTC trades, with simple and quick settlement processes.”

To enjoy a no-frills experience at the OTC trading desk, users would have to fulfill two requirements – one, have a Binance Level 2 (verified) account or above, and second, a trade order worth at least 20 BTC.

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