BitPrime’s OTC platform transforming New Zealand’s crypto trading scene

BitPrime’s OTC platform transforming New Zealand’s crypto trading scene
Written by:
Jinia Shawdagor
21st September, 16:15
Updated: 21st September, 16:16
  • Since its launch, the platform has transacted volumes and helped professionals with digital asset solutions.
  • The platform uses superior iRFQ technology provided by OSL to secure client assets.
  • BitPrime OTC features superior security, fast execution, and allows fiat deposits.

In October 2019, BitPrime launched a revolutionary Over The Counter (OTC) trading platform targeting professional traders. Almost one year later, the platform is moving volumes and has helped with crypto adoption in New Zealand.

The platform has lived up to the promise made by BitPrime of providing a robust trading desk to provide digital asset solutions. During the launch, Ross Carter-Brown, the CEO of Bitprime, stated,

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“The launch of BitPrime OTC brings a depth of liquidity that hasn’t previously existed in the New Zealand market. As a premier boutique digital asset brokerage, we pride ourselves on this type of innovation, along with our market-leading deposit times, rapid trade execution, secure custody, and exceptional customer service.”

Superior iRFQ technology

The OTC platform runs on intelligent Request For Quote (iRFQ) technology provided by OSL. The platform also banks on OSL’s superior wallet infrastructure to store the client’s digital assets. Wayne Trench, the CEO of OSL, has affirmed his pleasure of working with Bitprime OTC by commenting,

“We’re thrilled to be working with BitPrime. As the clear leader in the New Zealand digital asset retail market, we believe that the company’s use of the OSL iRFQ solution will deliver unique value to clients and enhance its already robust platform.”

Features of BitPrime OTC

The platform has been endorsed by high net worth clients and professionals due to several factors include:

Security – Its systems are reliable and designed to protect both physical and digital assets from collusion risk. Its cold storage is in strong vaults secured from electronic influences. All the assets on BitPrime OTC are fully insured, and withdrawals can only be made only to pre-approved addresses.

Fast trade execution – The turnaround time for the execution of trade is three hours done during weekdays. Its rates are competitive with international exchanges with four available trading pairs, including Bitcoin and Litecoin.

Fiat deposits – The platform accepts trades of between $50,000 and $500,000 without charging a deposit fee.

BitPrime’s OTC is readily available to traders, brokerage firms, family offices, and fund managers. Its deep liquidity pools ensure that all the investors capitalize on market prices in real-time and efficiently hedge against volatility. 

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