OTC Trade, a Nevada-based “software-as-a-service” company, has just launched an over-the-counter trading platform with a focus on “traders, trading desks, institutional investors, private equity firms, and family offices,” according to a press release from the group.
Here, users will be able to trade Bitcoin in what is called a peer-to-peer space. This means that users trade directly to one another on a platform. The platform offers instantaneous trades, and provides necessary KYC features, despite allowing for anonymous trades at the same time.
Speaking on the matter is Alan McGrath, the CEO of OTCTrade, who says:
“We conducted extensive research and found the key benefits or features wanted were access to deals, and improved trust, speed, privacy and security.”
OTCTrade has also revealed a partnership with Prime Trust, providing $5 million in insurance to every account on that platform, the release also states.
Also sharing some thoughts is Schuyler Hawkins, the VP of Business Development in Prime Trust, who said:
“Prime Trust is the technology-driven financial institution that provides open infrastructure solutions for FinTech innovators. We power financial apps, payment processors, crypto exchanges, ATS’, OTC desks, crowdfunding portals, real estate platforms, brokers, investment advisors, and others with smart API solutions to create world-class financial services at scale. And we are delighted to partner with OTCTrade.com and their world-class solution, in delivering our sorely needed services to enhance safety and trust in this fast-growing market. They have a game-changing OTC Trading Desk solution that is ideal for our market.”