Over the counter (OTC) trading now live on Ethfinex Trustless

Ethfinex, an ERC20 exchange ecosystem, today shared an important development in its decentralized offering – Ethfinex Trustless OTC, a blockchain enforced over-the-counter service.

By using the blockchain to enforce large trades between parties in an atomic transaction, Ethfinex Trustless OTC builds upon the traditional OTC model:

• It removes the need for placing trust in an escrow.
•  It removes the need for placing trust in a counterparty.
• It opens up OTC to anyone with significantly lower fees at 0.02% (vs 2-5% on more traditional OTC desks).

Additionally, as there is no centralized order book or matching engine, there are no restrictions on what is traded on Ethfinex Trustless OTC (provided the products are not financial instruments). Customers can trade any ERC20 token, and even specify custom Ethereum addresses for tokens which are not currently listed on any exchanges.