On 12th March, the Over-the-Counter platform went live on the Switcheo exchange. It's all done by smart contracts avoiding that way the counterparty risk, allowing peer-to-peer trades with 0% trading fees for the first month. Normally these services require a certain amount of capital, that puts pressure under investors to choose liquid assets instead of more risky and illiquid assets with more potential of Return on Investment (ROI).
All the trades executed in the OTC platform are secure, transparent and are executed immediately. With major upcoming updates into the NEO blockchain the Switcheo team will introduce the V3 smart contract allowing cross-chain transactions and less frictionless transactions.
The OTC feature added to the exchange is a very useful tool to execute large trades off the main order books and it allows P2P trades of tokens/coins that are not listed in the exchange.
Another major update to the Switcheo Exchange is the account login using an email and a password with the 2FA making it look like a centralized exchange. An amazing work being developed to hide the idea of using a decentralized exchange and all the feelings that come with it, being something new very often can be a difficult process to adjust the market to use it, but the Switcheo team is delivering such features with rewards that incentive new users to create and test the login account.
When the team delivers the fiat gateway with all the other blockchains it will create an end-to-end solution to the crypto industry making it easier to access all these new asset classes.
