Cointelegraph reached out to OTC service providers from two different areas of the world to learn more about the role of OTC crypto trading hubs in the crypto ecosystem.
In the Philippines, an over-the-counter (OTC) exchange focuses on bringing crypto to mainstream eyes, while in the United Arab Emirates (UAE), an OTC provider focuses on the potential long-term impact of OTC on the crypto ecosystem.
In the Philippines, a budding crypto hub in Southeast Asia, physical OTC trading desks cater to those “less familiar” with crypto trading. According to Jay Ricky Villarante, the CEO of licensed virtual asset service provider (VASP) Moneybees, OTC platforms’ straightforwardness allows crypto trading to become more accessible to everyone, suggesting that it may also allow those less tech-savvy to engage in crypto trading.
Villarante also said that based on their observations with their clients, in-person OTC trading appeals to Filipinos because they “still value financial transactions.” The executive claimed clients are more confident when they see “real individuals” facilitating their trades.