Bitget Launches Fiat OTC Service for Block Trade

Bitget Launches Fiat OTC Service for Block Trade, Supporting GBP, EUR and USD

Press release

Victoria, Seychelles, 4 July, 2024 - Bitget, the leading cryptocurrency exchange and Web3 company, has launched its new fiat Over-the-counter (OTC) platform for block trade. The service initially supports Euros (EUR) , Pounds (GBP) and US Dollar (USD) , soon to be extended to Turkish Lira (TRY), Brazilian Real (BRL), and South African Rand (ZAR) for fiat to crypto and vice-versa settlements. This new offering caters to institutional investors and professional crypto traders, ensuring enhanced privacy, broader liquidity, and expedited settlements for large-order trading.

Over-the-counter trading, or OTC trading, is essential for those looking to avoid the market impact of blocked trades. It provides personalized, secure services, ensuring that large transactions do not influence open market prices. Bitget's OTC service stands out by offering professional execution, secure clearing, and competitive quotes throughout the transaction process, irrespective of the order size.

Bitget Fiat OTC utilizes leading Multi-Party Computation (MPC) technology to create an advanced security firewall, protecting clients' assets. Transaction data remains private and is not publicized, ensuring a high level of privacy for clients. Bitget Fiat OTC does not hold custody of fiat or crypto assets for its clients, maintaining an additional layer of security and trust.

"Bitget's Fiat OTC service is one of our milestones in providing traditional finance like security and seamless services to crypto pro traders on the platform. With enhanced security and advanced infrastructure for trading, there's significant growth in participation from pro-traders and crypto influencers. Our compliant OTC desk will ensure that our most valued users receive exceptional customer support and trading solutions," said Gracy Chen, Chief Executive Officer (CEO) at Bitget

In strict adherence to global regulatory standards, Bitget OTC follows Know Your Customer (KYC) requirements to combat money laundering (AML) and terrorism financing (CFT). Advanced algorithm models are used to monitor real-time client transactions, and any suspicious activities are flagged accordingly.

The OTC users have access to aggregated liquidity pool sourced from leading exchanges and market makers. Bitget OTC ensures competitive prices close to the spot rate, irrespective of the order size. Notably, there are no fees for account opening, maintenance, or processing, making the service cost-efficient for large-scale traders.

Bitget's team of professional advisors offers one-on-one, round-the-clock service to clients, ensuring a seamless trading experience. The help center and service hotline are available to assist clients in quickly getting started with the OTC trading service. Settlement is instant upon trading confirmation, with no involvement of third parties.

The minimum trade size for Bitget OTC is an equivalent value of $ 10 0,000 USD or EUR, with no maximum limit for trades or any trading fees, offering an all-inclusive price within the bid. To access the OTC service, users need to have a verified Pro-level OTC-specific Bitget account. For professional investors seeking a secure, private, and efficient trading solution, Bitget’s exclusive Fiat OTC service offers crypto's world-class services ensuring seamless fiat-crypto conversions.

For more information, please visit Bitget Fiat OTC

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For media inquiries, please contact: media@bitget.com

2024-07-04

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