RightBTC, a cryptocurrency exchange headquartered in Dubai, has announced the release their new OTC platform on Wednesday September 19, 2018. The revolutionary platform will allow OTC merchants to broker trades without the worrying about liquidity to cover the risk.
RightBTC posted on their blog for OTC merchants:
“We are pleased to announce that we are going to launch fiat-crypto trading service on September 19, 2018.
We will provide a channel for users who wish to purchase cryptocurrency such as Bitcoin and those with fiat withdrawal requirements. Users can decide whether to buy or sell and choose who to deal with. For future progress of fiat-crypto trading service, please pay attention to our announcements for further updates.”
The newly announced OTC platform will allow users to convert coins and tokens in to fiat currency. The aim of the new platform is to allow large volumes of cryptocurrency to be exchanged for legal tender that is normally a tedious and sometimes impossible endeavour on other platforms. This is a sought out feature for large investors, corporations and ICOs.
With the direct trading between brokers and investors will allow the high valued trader more control over their portfolio as well as providing no withdrawal limits and zero trading fees. One of the main advantages will be the OTC platform of removing the issues of slippage, which happens when the a market opens at a vastly different price to the close price, leaving traders with an unexpected price executed. This is circumvented by RightBTC locking prices between the two parties involved in the trade.
RightBTC may give high-end investors the platform that can suit all of their needs.