Binance has become almost daily present on the headlines of crypto news sites, because it does not stop and seeks to reveal new features and things on a daily basis.

announced Binance has announced a new OTC trading portal to make crypto exchange settlements quick and easy.

The ad was accompanied by a statement by Binance that its new “OTC” portal is a live RFQ platform, an initiative that enables buyers and sellers on the platform to submit quotes for various cryptocurrencies.

Binance added that when an agreement is reached, the portal gives users the ability to confirm deals and receive settlement directly into their Binance account.

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Changpeng Zhao, founder and CEO of Binance, commented that the new OTC trading platform is designed to allow for seamless trading, and also supports large trades, stating:

Try it, it’s smooth, works even for big trades, no slippage, and no impact on the market.

According to the announcement, Binance indicated that the portal will initially support 25 different cryptocurrencies and tokens, including large coins “Bitcoin, Ethereum, and USDT,” among many others, with plans to add more in the future.

The minimum amount to trade in the OTC trading portal will be equivalent to 10,000 USD worth of any cryptocurrency without fees.

However, cryptocurrency prices will be marked above the market price for buyers, while any token or cryptocurrency on the platform will be sold below the market price, depending on the offer.

Using OTC Binance Portal:

Users are required to log into the OTC trading portal with a KYC verified Level 2 account and select the option to buy or sell.

On the platform, traders will be asked to choose the cryptocurrency they want to trade and enter the amount into one of the boxes to receive the quote, upon receiving the quote, they can then choose to accept the quote or not.

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For the record, I have already Launched Binance Wholesale OTC Trading Service Last year, at the time of launch, Binance made the service available to users who had traded at least 10 BTC, giving them access to trade more than 150 cryptocurrencies.

Off-platform buying and selling platforms are among the popular ways to exchange digital currencies, and among the vivid examples in our Arab world are:

Group buying and selling digital currencies.