How Gate.io is Providing a ‘One-Stop Shop’ Service With OTC Offering

Crypto exchange Gate.io has enhanced its offering to provide institutional clients and high-net-worth individuals (HNWI) a “one-stop shop service” incorporating over-the-counter (OTC) trading with “seamless” on- and off-ramps, and instant block trading.

In an AMA with Rug Radio creator Ashley, Gate.io’s Global Head of OTC Edwin Cheung explained that, “What we’re trying to do is to provide a one-stop shop service—not just crypto trading, but also a gateway for clients to realize their profits via an on-off ramp service.” He added that Gate.io also provides a spot block trading service that could help clients to fill large orders. “We have integrated with various top-tier liquidity pools to offer the most competitive quotes in the market. This includes BTC, ETH, and other altcoins which are less liquid to execute in an exchange order book.” 

“OTC is one of the unique features that we offer,” Cheung said. He added that, “Our volume has grown a lot in the last couple of years,” particularly in the Middle East and South East Asia, with Gate.io’s OTC service now offering “seamless fiat settlement” in USD, EUR and several other domestic currencies.

“We started to see more and more corporate clients using OTC service not only for crypto investment, but also for payments and cross-border remittances,” he said,  “The largest OTC volumes aren’t just about the native crypto players, but are also about the traditional finance companies, like the logistics company that has a lot of export and import.” Instead of using international banking rails such as SWIFT for settlement, they turn to use stablecoins for cross-border settlement, which is instant and borderless.

On the retail side, Cheung said that the recent meme coin boom has also served to make OTC “hotter and hotter,” with projects and early investors looking to purchase or redeem their altcoins in fiat currency. “Altcoin trading is one of the most popular offerings on Gate.io,” he said. “We have been working with all these projects to provide liquidity and also to facilitate their on/off ramp needs.”

Promising “competitive quotations,” Gate.io’s OTC platform was upgraded in 2023 with an overhauled UI and interactive user experience. Users with smaller transaction requirements can use Gate Connect for one-click exchanges between crypto and fiat using Visa and Mastercard, while HNW clients and institutions making trades over $100,000 can use Gate OTC’s bespoke service to on- and off-ramp service, with secure bank transfers, and a “handy currency exchange solution.”