Bitget recently launched its new fiat over-the-counter (OTC) platform for block trade, catering to institutional investors and professional crypto traders that want enhanced privacy, broader liquidity, and expedited settlements for large-order trading. Supporting Euros (EUR), Pounds (GBP) and US Dollar (USD), the OTC platform will soon extended support to provide coverage of Turkish Lira (TRY), Brazilian Real (BRL), and South African Rand (ZAR) for fiat to crypto and vice-versa settlements.
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 Fiat OTC leverages 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.
The crypto exchange claims to follow global regulatory standards such as Know Your Customer (KYC) requirements to combat money laundering (AML) and terrorism financing (CFT). According to Bitget, advanced algorithm models are used to monitor real-time client transactions, and any suspicious activities are flagged.
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.
The minimum trade size for Bitget OTC is an equivalent value of $100,000 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.
It was in May that Bitget announced the appointment of Gracy Chen as the new Chief Executive Officer (CEO) of the leading crypto exchange founded in 2018 and known for its copy trading feature.
Succeeding Sandra Lou, who left to pursue her own business ventures, Gracy Chen brings over 10 years of experience in business management, marketing, and investment. A prominent female entrepreneur in the crypto industry, Chen’s journey into the world of blockchain began in 2014 as a TV host, where interviews with industry experts like Tim Draper sparked her interest in cryptocurrencies. This fascination led her to invest in several crypto startups, including Bitkeep (now Bitget Wallet), Asia’s largest Web 3 multi-chain wallet.
In June 2022, Chen joined Bitget as its first Managing Director, steering the platform’s global expansion. Her leadership contributed to quadrupling Bitget’s user base through strategic partnerships, including collaborations with football legend Leo Messi and a robust global affiliate network. These efforts solidified Bitget’s status as a top-five crypto exchange and Web 3 platform.
Beyond her role at Bitget, Chen contributes to the cryptocurrency field as a columnist for major publications like Forbes and Cointelegraph, where she has published over 50 articles. She is also a judge on the crypto reality TV show Killer Whales. Her efforts earned her recognition as a Global Shaper by the World Economic Forum in 2015, and she was elected to the Forbes Business Council in 2023.
Throughout the years, Bitget expanded to more than 100 countries and its product offering now includes Bitget Wallet and a range of Web 3 solutions such as wallet functionality, swap, NFT marketplace, and DApp browser.
