Settlement
Crypto OTC desk
An over-the-counter desk quotes one firm price for your whole size, rather than filling your order against a public book. This is how the XEROF desk prices, executes and settles.
What an OTC desk gives you that an exchange does not
An order book is priced for the next small trade. An OTC desk is priced for yours. The difference matters most at size, where the average fill on a public venue can drift well away from the screen price.
A quote, not an order book
You are shown one firm price for the whole size before you commit, instead of walking an order book and discovering the average price afterwards.
Size without slippage
The quote covers the full amount, so a large trade does not move the price against you the way the same order would on a public venue.
A known counterparty
Every trade faces FE Swiss Financial AG, a Swiss financial intermediary under the Anti-Money Laundering Act, supervised through VQF membership No. 100954.
Settlement into your own account
Fiat settles to a bank account in your own name over Fedwire, SWIFT, SEPA, CHAPS or Faster Payments. Cryptoassets settle to your segregated wallet.
How the desk works
Four steps from onboarding to settled funds.
- 1
Onboard once
Complete onboarding as a company or an individual. Trade sizes and terms are agreed at this point and confirmed in writing.
- 2
Request a price for your size
Tell the desk the asset, the direction and the amount. The quote returned covers the entire size, with the liquidity rate and the XEROF fee on separate lines.
- 3
Accept the quote
The price you accept is the price you get. There is no spread added to the rate and no mark-up hidden inside it.
- 4
Settle
Fiat leaves to your own bank account, or cryptoassets settle to your segregated wallet or an address you specify.
Where the desk fits
The desk is the execution layer behind settlement. Once a trade is done, proceeds can be paid out as fiat invoices, held in segregated custody, or received on a dedicated IBAN in your own name. If you simply want to turn crypto into cash, the cash-out guide walks through it, and fees follow the published tiers on the pricing page.
Common questions
- What is a crypto OTC desk?
- An over-the-counter desk trades directly with you rather than matching your order on a public exchange. You are quoted one price for the full size and settle bilaterally with the desk.
- How is an OTC desk different from a crypto exchange?
- On an exchange your order consumes the order book, so a large trade fills at progressively worse prices. An OTC desk prices the whole amount up front, so the rate is known before you commit.
- Why use an OTC desk instead of an exchange?
- For size, for price certainty, and for a regulated counterparty that settles into a bank account in your own name rather than leaving the balance on a trading venue.
- What size does the desk handle?
- Trade sizes are agreed at onboarding and confirmed in writing, so the desk can quote firm prices against tier 1 institutional liquidity.
- Which assets does the desk quote?
- Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), plus the stablecoins USDC and USDT, against USD, EUR, CHF and GBP.
- How is the desk paid?
- Liquidity is passed through at cost and the XEROF fee is applied separately on the execution price, so the confirmation shows the rate, the fee and the net amount.
- Does the desk hold my assets?
- Assets sit in one segregated on-chain wallet per client until you trade. Nothing is pooled, lent out or rehypothecated.
- When can I trade?
- The desk quotes during Swiss business hours. Instructions received outside those hours are quoted on the next business day.
Trade at size with a Swiss regulated counterparty. Open an account online and agree your terms at onboarding.