Huobi OTC Desk, a new initiative, was launched, according to Huobi. Low spreads and no processing fees are provided by Huobi’s OTC Desk. These services attempt to enhance payment options while lowering the cost of transactions for users. For users worldwide, Huobi OTC offers quick payment processing and affordable costs. For instance, USDT/USD-USDT/USD transactions are routinely reimbursed within an hour, and spreads can be as low as 0.0001. Moreover, there are no transaction costs. Customers are shown the “all-inclusive” price. For offline OTC transactions, $100,000 worth of assets is the minimum deal amount. Quote trading is supported for transactions larger than $100,000 using the private trade chat room. Fiat currencies like the US dollar (USD), euro, pound sterling (GBP), Australian dollar (AUD), Canadian dollar (CAD), Swiss franc (CHF), Hong Kong dollar (HKD), Japanese yen (JPY), Singapore dollar (SGD), and USDT/USDC transactions are currently supported in bulk deposits and withdrawals by Huobi OTC Desk.
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The OTC Desk initiative will offer a bespoke virtual account option if the investors’ bank has restrictions and forbids wire transfers linked to cryptocurrencies (for USD only). Not only are the services appropriate for individual traders and investors, but also for family offices, cryptocurrency exchanges, quantitative trading institutions, and high-net-worth individuals.
The Business Manager of Huobi OTC Desk shared, “As the crypto market continues to grow, mainstream cryptocurrencies such as Bitcoin and Ethereum have gained popularity in mainstream institutional portfolios. Huobi OTC Desk will help professional investors purchase or sell a block quantity of cryptocurrencies in real-time, which can reduce the risk of market slippage, allow for competitive quotations, and increase operational efficiency”.
