Digital Asset & Commodity Exchange (DACX), a London-based digital asset platform, today announced the launch of its Over-the-Counter (OTC) trading desk.
The OTC desk operates as a private and personalized service catering to institutional, corporate and high net-worth individuals needing deeper liquidity to fill large orders off the open market exchanges.
Institutions will undergo a strict onboarding process; whereby sufficient KYC and AML documentation must be supplied by the applicants.
Overview
Upon opening, the OTC trading desk will provide 1-on-1 service on a 24×5 basis, from Sunday 20:01 UTC until Friday 23:00 UTC.
- Fiat currencies: US Dollar (USD), Euro (EUR) & British Pound (GBP), (more to be rolled out)
- Crypto assets: BTC, ETH (more to be rolled out)
- Stablecoins: USDT, USDC, PAX, DAI
- Minimum transaction: $50,000
- DACX OTC Services contact: Enquiries can be mailed on otc@dacx.io
Partners
- AiX – provides instant, trader-to-trader interaction, removing the need for inter-dealer-brokerage through advanced artificial intelligence (AI). AI has now reached the point that it can replace traditional broker roles of price discovery and cross-market execution, even for over-the-counter (OTC) trades or when accessing dark pools of liquidity. AiX replaces brokers with its proprietary AI engine, in the process promoting greater efficiency and democratization in the financial markets.
- Zero Hash – a multi-platform and multi-custodial settlement agent that can facilitate the calculation of trade obligations and delivery of assets across 20 fiat pairs and over a dozen digital assets. Zero Hash can settle an ever-growing list of tradable products, including spot, derivatives, and loans.
“We are proud to announce that DACX has launched an OTC desk, this will cater for the institutional demand towards digital assets. As a technology driven company we aim to provide the best price execution and experience for our clientele in a highly secure, compliant and streamlined environment. Partnering with AiX was a natural choice with their disruptive NLP negotiation and matching engine, along with utilizing Zero Hash for their flexible settlements infrastructure to mitigate counterparty risks.”
– Zeeshan Chaudhry, Founder, CEO of DACX
Discussion about this post