Cryptocurrency exchange Coindirect has launched an over-the-counter (OTC) brokerage in South Africa.
The service lets high volume users to avoid lengthy transactions that can take hours. Nic Haralambous, the exchange’s COO said:
“During our first two years in the industry we have paid close attention to which users are driving the volume of crypto trading. Our approach is to bring cryptocurrency to as many users as possible, however, the data shows that a majority of the daily trading volume in South Africa right now comes from a very small percentage of traders.”
The report said the exchange also added other major features to the platform such as instant withdrawals, credit card payments and higher transaction limits.