Wirex Announces Another Industry First, No Strings Attached OTC Crypto Exchange Rates
Wirex, a cryptocurrency and fiat payments platform recently unveiled its new version v.3.0, the “re-designed and turbo-powered” platform for both digital and traditional currency. After introducing the world’s first crypto rewards programme and the payment card that allows one to spend digital coins in real life, no minimum limit to OTC (over-the-counter) rates are here.
“We’re delighted to announce another industry first – no-strings access to OTC (over-the-counter) rates for crypto exchanges on the Wirex platform.”
OTC No More Limited for Institutional Investors Only
According to its latest announcement, Wirex is targeting the OTC market now. Over-the-Counter (OTC) is used to refer to those stock, here cryptos that are traded directly between two parties as opposed to on a centralized exchange. On OC trading desks, there is less transparency and less stringent regulations. Also, reportedly crypto OTC is primarily dominated by institutional investors.
Wirex is planning to change this by lowering the “large transaction minimums” associated with OTC trades.
“OTC trading is usually limited to high-net worth individuals and financial institutions. We believe that everyone should be able to exchange their currencies – crypto and traditional – at the best possible prices.”
Wirex is working “closely” with a number of OTC trading desks to allow the individuals to exchange crypto at OTC rates and traditional currency at the interbank rate.
“We want to put the power back in the hands of the people, which is why Wirex 3.0 allows all users to exchange their crypto at OTC rates, no matter the amount. This means that you can now buy and convert your Bitcoin, XRP, Ether, Litecoin, Dai, Waves and Nano at the most competitive rates on the market.”
One crypto enthusiast shared, “I enjoy your platform. and the OTC markets are imperative to us small cap lads.”
Bridging the Gap
Just recently, Wirex 3.0 was introduced to bridge the gap between crypto and traditional money by offering multiple new features. It involved ten new fiat currencies, a transparent fee structure, and allowing to make the transfers by using SEPA, SWIFT, and Faster Payments. Furthermore, unconditional access to OTC rates for crypto exchanges and traditional currency exchange rate at the interbank rate along with a new-design Wirex Visa card was also part of this overhaul.
We want to put the power back in the hands of the #cryptocommunity. Which is why we’re delighted to announce another industry first..
— Wirex (@wirexapp) March 1, 2019