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.
Over-the-counter (OTC) exchanges in the Philippines focus 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, according to Jay Ricky Villarante, the CEO of licensed virtual asset service provider (VASP) Moneybees.
In the Philippines — a budding crypto hub in Southeast Asia — physical OTC trading desks cater to those “less familiar” with crypto trading, Villarante says. OTC platforms’ straightforwardness makes crypto trading 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 Moneybees’ observations with its 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.
