Malta serves as a hub for crypto exchanges, due to its policy of widespread crypto acceptance. Tokenomica, an exchange based within the island nation, has recently announced that it will now offer over-the-counter, or OTC, crypto trading for large participants.
Large-Scale Crypto-Fiat Conversion
Participants will now be capable of trading large amounts of crypto for Euros, which will stand apart from the exchange’s usual order books. The announcement came through the exchange’s blog, having been posted on the 18th of February. As it stands now, the exchange has given no further comment about the matter as a whole
Traders that do business on a large scale will now be capable of swapping Bitcoin for Euro fiats within the Tokenomica platform. This comes in contrast to the similar service being given through the use of stablecoins. It’s something that an extensive array of exchanges have been doing across the globe. Furthermore, Tokenomical pointed out within the announcement that users are capable of transferring fiat funds to and from their bank accounts with the new feature.
Bigger Is Better
However, when Tokenomica said that the transactions must be substantial in value, they meant it. A minimum for this OTC trade option stands at 5 BTC or about 9,400 euros in the current trading environment. The maximum amount for transfer stands at 50BTC, and the trading fee will set at 0.75%. Working at the smallest amount here, Tokenomicon stands to gain 70 EUR per every minimum transaction or 0.0375 of a BTC.
Of course, large crypto participants are also capable of leveraging Tokenomica’s OTC trading for any form of digital asset available on the exchange, as per the announcement’s statement.
The OTC industry in crypto has been growing steadily for quite some time now. One of the biggest OTC dealers out there, B2C2, has recently made a partnership with SFOX, a crypto business situated in the US. The agreement, in particular, was to primarily allow SFOX clients to gain access to B2C2’s larger liquidity pools, as well as accessing the better prices it offers in the OTC market, all through a single point of entry.
As every day goes on, the crypto industry grows more and more developed. Tokenomica is just the first step in bridging the gap between crypto and fiat. As the world’s countries slowly take part in a crypto arms race that China has started off, the lines between fiat and crypto will continue to blur.
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