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Indian bitcoin wallet Unocoin launches OTC platform for bulk quantity traders

Indian-based Unocoin, a popular bitcoin wallet, has announced that it is launching a bitcoin-OTC platform for high volume traders.

According to the official announcement, the bitcoin-OTC is an over-the-counter marketplace for bitcoin transactions for traders who are looking for bulk quantity trade with minimum order of 25 BTC. Based on parameters like ‘greater than’, ‘less than’, or ‘equal to’, each orders placed on the OTC platform will be tailored to match with these from popular platforms like coindesk, zebpay and bitstamp.

“The OTC feature will come as a relief to traders who wished to trade bitcoin in larger quantities and weren’t able to do so previously due to: 1) buy/sell limit or 2) low liquidity in Indian bitcoin exchanges. This was a service that more serious Indian bitcoin traders were lacking, until now.” Harish B V, co-founder and CFO at Unocoin said.

If a customer places an order to buy 50 BTC when the price is less than coindesk’s price by 100 INR, Unocoin will contact the customer when it is able to honor such request to get the re-confirmation and then move with the execution of the order.

“In the coming few months, we are aiming to launch more exciting services which will contribute towards building a stronger bitcoin ecosystem in India. We are on a singular mission here, take bitcoin to billions.” Sathvik Vishwanath, Co-Founder and CEO, Unocoin said.

Recently, Unocoin announced bitcoin trading mobile app on Apple store with its Android version. The application will support TouchID and passcode feature for security and features a dedicated one-touch button to buy or sell bitcoin. The dashboard hosts the user’s BTC and INR wallet and comes with an interactive 24-hour price graph timeline.

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