Matrixport APP Launches OTC Service to Lower Barriers for Traditional Capital

SINGAPORE, Nov. 7, 2024 /PRNewswire/ -- Matrixport, the world's leading and Asia's largest one-stop financial services platform, announced the integration of Fly Wing Technologies Pte Ltd's ("Fly Wing") OTC service on the Matrixport APP, enabling a seamless one-stop experience for users. All Matrixport-verified accounts must complete Fly Wing's eKYC onboarding process to become a Fly Wing customer before gaining access to Fly Wing's OTC service.

Unlike the conventional C2C services provided by crypto exchanges, the OTC service provided by Fly Wing uses bank transfers to complete fund transfers with partner banks, ensuring the assets' security and transaction transparency.

The OTC service combines compliance and convenience, lowering the barriers for traditional financial investors to access crypto assets. Currently, the OTC function only supports USD, USDT, and USDC transactions.

John Ge, CEO of Matrixport, stated, "Fiat currency deposits and withdrawals are the first steps in the user's crypto experience, and it is also the most important step in promoting crypto assets to the masses. In response to the growing demand for crypto asset management and the evolving regulatory landscape, we strive to deliver an OTC service that seamlessly integrates compliance and convenience to address users' concerns. We will remain attentive to user needs and continue to refine our products to enhance the crypto experience. Our goal is to position Matrixport as the gateway to a traditional user experience in Web 3.0."

Recently, Matrixport has simultaneously expanded the breadth and depth of its products, continuously upgrading its trading system and features while further diversifying its structured product line. This multi-pronged approach enhances the crypto experience for users on Matrixport. With the launch of the OTC function, eligible users can engage in a range of crypto activities such as fiat currency deposits and withdrawals, transactions, lending, financial management, and on-chain staking on the APP, creating a one-stop crypto ecosystem.

About Matrixport

Founded in 2019, Matrixport is the world's leading all-in-one hub for crypto financial services. The platform is committed to providing every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research, and more. With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.

As a Group and through its local subsidiaries, Matrixport has received the Trust and Company Service Provider (TCSP) / Money Lender Licenses in Hong Kong, and the FINMA Asset Management License in Switzerland. The company operates as an Appointed Representative in the UK, is registered as an MSB in the US, and is a member of Switzerland's SRO-VFQ. It was recognized by CB Insights as one of the "50 Most Promising Blockchain Companies" and featured in the Hurun "2024 Global Unicorn List." Additionally, Matrixport's subsidiary, Fly Wing, has obtained IPA for the MPI License in Singapore.

Matrixport official website: https://www.matrixport.com

source: Matrixport