ZebPay intends to address the liquidity crunch in crypto assets with the desk as it gives access to round-the-clock deep liquidity to a range of cryptocurrencies. Representative image/Pixabay

Crypto exchange ZebPay on Monday launched India’s first electronic over-the-counter (OTC) desk for large volume traders and institutional investors globally. The OTC desk aims at HNIs, trading firms, and corporates to offer ‘one-click execution’ of large crypto trade orders instantly at tight spreads with zero fees and minimal slippage, the company said. The access is currently available via API integration or through an easy-to-use trading interface that enables automated trading facilities for all users.

The company intends to address the liquidity crunch in crypto assets with the desk as it gives access to round-the-clock deep liquidity to a range of cryptocurrencies. “With ZebPay OTC Desk, we are addressing the growing institutional interest in crypto globally and in India. Like other ZebPay products, the OTC Desk also provides a simplified and optimised trading experience coupled with personalised assistance, but specifically for larger volume traders. This will further encourage adoption of crypto in the country and help create a mark for India as a major player in this emerging space,” said Avinash Shekhar, Co-CEO, ZebPay in a statement.

The desk currently supports multiple fiat currencies and stable coins for global clients such as US Dollar, British Pound, Euro, Singapore Dollar, Dirham, Australian Dollar, Tether, USD Coin, and DAI. Founded in 2014, the exchange claimed of having over 4 million users and over $1billion in monthly transaction volumes. It currently operates an exchange in Australia and Singapore, serving 162 countries globally.

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ZebPay had earlier this year launched its lending platform for users to lend their coins to the company, on which they earn returns depending on the coin and the time period it is loaned for. The ZebPay Lending Platform generates returns on users’ crypto investments if they lend select cryptos thus, providing an opportunity to earn a passive income by adding on to the returns gained from rise in crypto prices.

While the crypto ecosystem continues to expand, the IMF in a chapter of its latest Global Financial Stability report had noted the ecosystem’s financial stability challenges. “Challenges posed by the crypto ecosystem include operational and financial integrity risks from crypto asset providers, investor protection risks for crypto assets and DeFi, and inadequate reserves and disclosure for some stablecoins. In emerging markets, the advent of crypto assets has benefits but can accelerate cryptoization and circumvent exchange and capital control restrictions. Increased trading of crypto assets in these economies could lead to destabilizing capital flow.”