Kraken has announced details of the latest addition to their service, an OTC Electronic Dashboard, which aims to assist their OTC users with their price quotes.
The news comes just a month after we learned of their acquisition of one of the first OTC crypto services in Australia, Bit Trade, after just a month prior of having also picked up Circle Trade, which is one of the most recognised OTC desks in the industry. As such, their expansion into OTC has been gradual but firm and so adding additional options to their on-site platform was a logical next step.
The new system in place has been promised to help “traders Get Automated Price Quotes in Seconds” via an automated Request For Quote dashboard, an RFQ for short. As a result of this addition to their service, Kraken have outlined three ways by which their OTC clients’ service will be improved. These are as follows:
- Request quotes for buy and sell orders directly from the dashboard for ALL fiat and crypto trading pairs
- Accept or decline quotes on the same screen
- See their entire transaction history in one simple dashboard.
Their pre-existing and future OTC clients will receive log-in credentials for this new OTC dashboard automatically. This will allow them to start using it immediately and make rapid quotes from the second it launches tomorrow at (February 13th).
Following its launch traders will be able to complete RFQs in four simple steps. These have been outlined on Kraken’s website so you can get familiar with the new software already. Then, when it goes live properly at approximately 17:00 UTC, you will be fully ready to make use of the brand new RFQ. Head over to Kraken now to start seeing how it works.
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