The CoinAll cryptocurrency exchange has reportedly rolled out its OTC trading platform that supports cryptos.
According to the press release unveiled on February 21, the first community-driven exchange announced joining the over-the-counter trading business.
Katherine Deng, the general manager of CoinAll, commented:
"Safety and speed are the biggest highlights...CoinAll will verify merchants and secure your trades with 24 hours round the clock customer service, leaving no effort to guarantee the trading safety."
Initially, the platform is said to support Vietnamese Dong. At the same time, the company stated that they are working on adding more fiats, including the sterling, baht and rouble. CoinAll is cooperating with OKEx, sharing "high liquidity offered by OKEx", so this will result in joint trading when orders on CoinAll will be available for OKEx users too.
For reference, CoinAll platform was launched by Hong Kong-based OKEx exchange under Open Partnership in August 2018.
As the company explained in the announcement, the OTC platform will enable users to place orders either with the OK index or own prices. Notably, the exchange sets zero transaction fees. The operations on the platform will be based matching system with integrated AI technology that will provide a fast speed of order processing.
Some other market players have already expanded businesses with OTC services lately. Specifically, Bithumb reportedly inaugurated its over-the-counter platform Ortus in early February.