Crypto Exchange Coindirect Launches OTC Brokerage In S.Africa

The major crypto exchange Coindirect is launching its over-the-counter (OTC) brokerage in South Africa. As reports in the cryptocurrency news today by CoinInsider showed on Septemebr 27, the platform is designed so that it would create a vast liquidity pool by integrating with global platforms. This will allow for Bitcoin (BTC) price locks after a confirmation as well as instant processing with no fees or slippage.

The service will basically let high volume users to avoid lengthy transactions that can take over 12 hours. The CEO of the crypto exchange Coindirect Nic Haralambous added:

“During our first two years in the industry we have paid close attention to which users are driving the volume of crypto trading. Our approach is to bring cryptocurrency to as many users as possible, however, the data shows that a majority of the daily trading volume in South Africa right now comes from a very small percentage of traders.”

According to the report which is in the focus of the crypto news today, the exchange is also adding other major features to the platform – including credit card payments, instant withdrawals and higher transaction limits.

As we reported a while ago, the cryptocurrency giant Binance is also planning to roll out its OTC trading platform for Chinese yuan – which will only target the Chinese market – in October this year.

For those of you who don’t know, the crypto exchange Coindirect is a peer-to-peer platform launched in 2017 and designed to serve crypto enthusiasts in the UK, South Africa, Nigeria and Kenya. Since its launch, the exchange has seen meteoric growth and expanded its offerings to more than 23 different countries as of August 2018.

The focus of the exchange remains Africa, though. This is mainly because the company is filing a gap in the market by providing a platform that Africans can tap for convenient payments using a wide variety of altcoins.

The team behind the crypto exchange Coindirect has worked hard to create a unique platform which makes it easy for users to trade, buy and sell – or invest in crypto. With strict security measures and compliance with the international financial standards, the exchange is definitely one of the leaders in the space.