CoinDCX, a cryptocurrency exchange platform, just launched its OTC (over the counter) platform to enter the crypto trading center’s client center. The new facility will add current CoinDCX platforms – CoinDCX and CoinDCX Pro – with the goal of growing user numbers and overall trading volume, according to the company.
According to an official release from the firm, “customers of the OTC Desk Center will be able to submit several orders for crypto assets such as Bitcoin (BTC) and other key cryptocurrencies without stitching.”
Furthermore, the OTC desk site guarantees that firm customers will be able to buy or sell their products without fear of price changes. Sumit Gupta, the founder of CoinDCX, stated that the company would focus on customers who trade huge sums of cryptocurrency. “This group is really concerned about pricing certainty and wants to slow down the drop,” he added, noting that the average ticket size for such services starts at around Rs 30 lakh and investment.
The company added that the growing popularity of cryptocurrency in India has benefited their exchange platform as more people are investing in crypto. Cryptocurrency is also seen as another investment by companies and individuals who want to diversify their portfolios. Gupta said, “Companies, as well as startups, are showing interest in expanding their portfolio by investing heavily in this asset class.”
According to the company, the OTC Desk location will help with risk management when large trades are made.
“With the double benefit of sufficient liquidity and the ability to place orders limited to large trading prices, CoinDCX is ready to enter this unused market and continue to expand its trading platform,” the company said.
Consumers in India are becoming more interested in digital money as crypto trading becomes more popular around the world. CoinDCX’s richness is reflected in its popularity. In August of this year, the corporation raised $ 90 million at a cost of $ 11 billion. CoinDCX became the first unicorn of the Indian crypto exchange (companies worth more than $1 billion) as a result of this.
Eduardo Saverin, the former CEO of Facebook, led CoinDCX’s Series C fundraising round, which included existing investors like Coinbase Ventures and Polychain Capital.