• Fri. Jul 19th, 2024

Gate.io launches OTC Block Trading in Dubai

Gate.io Group, whose ecosystem includes a public blockchain and a cryptocurrency exchange, has launched Gate OTC, an over-the-counter trading platform, Coin Journal learned from a press release

It will offer high-net-worth individuals and institutions all over the world fully licensed OTC crypto trading services and will support a number of major cryptocurrencies.

Gate MENA obtained a license in Dubai

The OTC trading service follows Gate MENA’s acquisition of a license from the Dubai Multi Commodities Centre (DMCC) to take part in proprietary crypto commodity trading. 

All services fulfill requirements in the United Arab Emirates, including regulations on AML, KYC, and CFT.

Gate.io Group EVP Tom Yang commented: 

We’ve seen growing demand for reliable OTC services, especially from major traders coming to crypto from traditional financial markets. We’ve introduced a dedicated and robust OTC platform with security, comprehensiveness, and convenience at its core to fulfill our existing and future clients’ ever-growing requirements.

Facilitating large block trades 

The OTC trading service will minimize the market price impact, sustain privacy, and facilitate large block trades at the same time. 

OTC trading is an alternative to massive trades on the buy/sell market order book, which come with higher risk, lengthy execution time, and severe price impact. 

Avoiding risk 

Investors can avoid these risks via direct transactions with the OTC platform. This is because trades are executed independently of the order books and based on quotes with locked-in pricing.

The new platform features on-demand customer service and 24/7, one-on-one professional advisor support. It partners with Coinfirm, Cynopsis Solutions, and other market leaders to improve its security and regulatory compliance measures.

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