BTSE Enables Crypto OTC Transactions with Pre-Quoted Prices

BTSE, a British Virgin Islands-based crypto exchange, announced on Thursday the addition of request-for-quote (RFQ) facility to its over-the-counter (OTC) desk.

Unlike traditional OTC trading desks, BTSE’s tool will allow traders to obtain a quote on a fixed and agreed-upon price before purchase. This, according to the exchange, will enable eliminate price Slippage Slippage In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price Read this Term between the executed and expected price, which traders complain about very often.

“BTSE’s OTC RFQ is a useful tool for investors, traders, business partners, and commercial players who want to leverage BTSE’s services as a Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provider,” Jonathan Leong, founder and CEO of BTSE, commented on the development.

“It’s currently difficult to confirm prices before actioning trade activity, but with an instant RFQ, users can determine the price before they make a purchase.”

The services will be available for the OTC purchases of Bitcoin, Ethereum, Litecoin, Monero, and the exchange’s native BTSE token, along with stablecoins like Tether, TrueUSD, and USDC.

Targeting both retail and professional traders

BTSE is also highlighting that its RFQ feature will have a lower limit of $1 while the upper limit has been set at $100,000, meaning the exchange is targeting both retail and institutional clients.

The platform will allow traders to place orders on its OTC desk with major digital currencies, stablecoins, and an array of fiat including US dollar, Japanese yen, euro, and UAE dirham.

BTSE also told Finance Magnates that it has seen a spike of 120 percent in its OTC desk over the past two weeks as the Bitcoin market is steaming for a rally.

Meanwhile, the British Virgin islands-registered exchange is also aggressively expanding crypto offerings. Earlier this month, the exchange unveiled a crypto-fiat debit card when giants like Binance are also launching similar products.