AirSwap, the Decentralized exchange has launched the over-the-counter (OTC) trading product for it’s mainnet rollout. In an official update posted by them, AirSwap stated that the new product would be available initially “exclusively to a private beta group.”
AirSwap, which was founded in 2017, became known for offering seamless P2P trades for ERC20 tokens to a group of primarily retail investors. The new OTC block trading product will allow institutional investors to trade high quantity of assets on the exchange.
Don Mosites, Airswap Co-founder while exclaiming on the development, also stated that the OTC tools would be making trades on exchange more open and direct.
“It essentially allows your more flexibility on price and the ability to know your counterparty, assess with whom you’d like to do business more directly,” he said. “With the OTC tools, this unlocks a totally new world of liquidity. This is going to enable trades of any size to happen with the AirSwap network.”
For the current investors on AirSwap, the OTC update would be of major implications. The AirSwap platform has also made a recent addition of a chat feature in the new OTC rollout that would be connecting traders with buyers for accommodating a private conversation where they could be facilitated with the negotiation and terms of deal without affecting the market with these terms.
As Mosites stated,“We saw that around 40 percent of crypto volume worldwide was being traded OTC,” while explaining why the conversational trading was a priority for the company. AirSwap believes an opportunity exists in improving efficiency and the overall trading experience to make trades happen faster. The company plans to circumvent all the friction that goes into negotiating OTC trades with conversational trading built on Ethereum.
Due to the enhanced incursion of institutional solutions pertaining towards crypto investors, accredited investors and investment firms are more inclined towards joining the industry to grow their business.
The updated platform would also feature an identification system, to be managed by Wyre — an escrow — which allows dealers and other institutional investors have access to regulations that secure their trading activities.