AirSwap is introducing the framework for over-the-counter (OTC) trading product for mainnet rollout.
In an update that was seen on its website, AirSwap revealed the new product would be accessible “exclusively to a private beta group.”
Established in 2017, AirSwap gained a reputation for offering frictionless peer-to-peer trades for ERC20 tokens to retail investors. The most recent OTC block trading product would let high net worth investors to trade any amount of digital assets on the exchange.
Don Mosites, AirSwap’s co-founder, commented on the development and said the new OTC tools would allow trades to be 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 investors that use AirSwap, the new update is a move in the right direction. The AirSwap platform has made it easy for clients to buy and sell off tokens but the add-on of a chat feature in the new rollout would link traders with buyers in a private conversation where they can have this kind of interaction without broadcasting the details of the negotiation that could influence the market.
“We saw that around 40 percent of crypto volume worldwide was being traded OTC,” Mosites said, while explaining why the conversational trading was a urgent for the firm. AirSwap considers that an opportunity lies in bolstering efficiency and the overall trading experience to quickly make trades happen. The firm plans to evade all the friction that comes with negotiating OTC trades with conversational trading built on Ethereum.
Due to the rise of institutional solutions to crypto investors, sanctioned investors and investment firms are more motivated to join the industry to develop their business.
The upgraded platform would also have an identification system, to be supervised by Wyre — a regulated money service business — that lets dealers and other institutional investors gain access to regulations that safeguard their trading activities.
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