According to a report by CoinWorld, the cryptocurrency exchange Gate.io has enhanced its offerings, providing a “one-stop service” for institutional clients and high-net-worth individuals (HNWI), including over-the-counter (OTC) trading, seamless entry and exit for transactions, and instant large-scale trades.
In an AMA with Rug Radio founder Ashley, Edwin Cheung, the Global Head of OTC Trading at Gate.io, explained, “We are striving to offer a one-stop service not only for cryptocurrency trading but also as a gateway for customers to realize profits through switch services.” He added that Gate.io also provides spot OTC trading services to help clients execute large orders. “We have integrated with various top liquidity pools to offer the most competitive quotes in the market. This includes BTC, ETH, and other lower liquidity altcoins executed on the exchange’s order book.”
Cheung stated, “OTC is one of the unique features we offer.” He further noted, “Over the past few years, our trading volume has increased significantly,” particularly in the Middle East and Southeast Asia. Gate.io’s OTC services now provide “seamless fiat settlements” in USD, EUR, and several other local currencies.
He remarked, “We are starting to see more and more enterprise clients utilizing OTC services, not only for cryptocurrency investments but also for payments and cross-border remittances.” He added, “The largest OTC trading volume is related not only to local cryptocurrency participants but also to traditional financial companies, such as logistics firms with significant import and export volumes.” They are no longer using international banking channels like SWIFT for settlements but have shifted to using stablecoins for cross-border transactions, which are instant and borderless.
Regarding retail, Cheung mentioned that the recent meme coin craze has also made OTC trading “increasingly hot,” with projects and early investors looking to buy or exchange their altcoins for fiat currency. He stated, “Altcoin trading is one of the most popular products on Gate.io.” “We have been collaborating with all these projects to provide liquidity and meet their import and export needs.”
With the aim of providing “competitive quotes,” Gate.io’s OTC platform underwent an upgrade in 2023, featuring a complete overhaul of the user interface and interactive user experience. Users with lower trading requirements can utilize Gate Connect to execute one-click transactions between cryptocurrencies and fiat using Visa and Mastercard, while high-net-worth clients and institutions with trading amounts exceeding $1.2 million can access customized services from Gate OTC, offering secure bank transfers and “convenient currency exchange solutions”
