VirgoCX’s Managing Director discusses how VirgoCX Wealth is helping to solidify its position as Canada’s leading cryptocurrency trading platform

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One of the most regulated cryptocurrency trading platforms in Canada, VirgoCX was founded in 2018 with the goal of becoming the leading full-service solution of choice for Canadians to trade and invest in cryptocurrencies. The company strives to make cryptocurrency trading safe, easy and affordable, and the platform strives to provide a streamlined trading experience and support clients with advanced technology, superior liquidity and top-notch security.

VirgoCX recently rebranded its full-service over-the-counter (OTC) trading desk to VirgoCX Wealth, a new elite premium service aimed at high net worth and institutional investors. With a dedicated and personalized wealth account manager, direct trading services, and enhanced flexibility and accessibility to seamlessly ease traders’ transition from retail to over the counter, VirgoCX Wealth is raising the bar and redefining the definition of best-in-class crypto trading services.

I sat down Jonathan Han, Managing Director of VirgoCX, to learn a little more about how the VirgoCX platform works, the services clients can enjoy with VirgoCX Wealth, and what clients can look forward to when they open an account.

Hello Jonathan! Let’s jump straight into things. Can you please tell our audience about the achievements of VirgoCX since its inception?

For sure. Since our inception, VirgoCX has successfully completed its AML (anti-money laundering) and third-party financial audits, surpassed $500 million in trading volume, launched OTC Direct for 24/7 institutional access to liquidity, and we also launched the first NFT Brokerage in Canada. This is in addition to the recent rebranding of our OTC desk to VirgoCX Wealth, our premier crypto trading service.

That’s really interesting and one of the things we wanted to focus on today. Can you dig a little deeper into VirgoCX Wealth?

Certainly. VirgoCX Wealth was designed to make the cryptocurrency market as easy to use as traditional financial services. This allows us to provide our traders with a deep pool of liquidity – deep enough to fill even large orders from institutions and wealthy investors. With VirgoCX Wealth, our clients can avoid price slides and trade across a wide range of global fiat currencies while enjoying 24/7 support, fast trade execution and fast access to funds.

We feel the renaming from OTC to VirgoCX Wealth better fits our vision of where over-the-counter trading desks are going in Canada and like our peers in traditional markets, we want to cater to more advanced traders while still offering the best offer class service.

That really speaks to where you’re taking the platform. With that in mind, let’s step back and talk about investing for users of all kinds – not just institutions or high-value clients. Among the most critical components of crypto trading for many of these users is secure, user-friendly, and competitive trading. Can you tell us something about your approach?

For sure. One of the first components required for fair and competitive pricing is ensuring access to liquidity. For our OTC trading, we have partnered with local banks and financial institutions and use our in-house technology, which allows us to offer our traders access to exclusive, secured and automated liquidity from around the world. This provides our traders with fast and instant access to the comprehensive liquidity required for fair and competitive trading.

Another component of trading is the so-called Optimal Price Execution. With Optimal Price Execution, we help our users – typically brokers or institutions – to execute large volumes of trades at a price that is significantly better than our competitors. It helps these enterprise-class traders reduce trading costs and provide more lucrative deals to their customers.

Finally, seamless, user-friendly workflows are critical to the success of any initiative, not just crypto services. Our OTC Direct services guarantee lightning-fast trading experiences via both a web portal and API. This gives our users the flexibility to trade on the go, from home or through automated applications. Wherever you are or however you want to trade, VirgoCX OTC Direct has you covered.

Together, these three components – instant access to rich liquidity, optimal price execution, and fast, efficient, user-friendly interfaces and experiences – have helped us stay ahead of other platforms.

So how much money can institutional investors save on average with VirgoCX OTC trading, and what currencies or tokens do you support?

Well, it depends on the respective trading volumes. Generally, when comparing VirgoCX OTC to retail platforms in Canada, investors can save at least 1% of their notional investment value.

In terms of currencies, we support trading in USD, CAD, EUR, GPB, NZD and AUD. More currencies will be added to the platform in due course. We also support all high-cap coins like BTC, ETH, USDT and many more, and additional tokens will also be added in due course.

Do you offer or will provide support for other blockchain investments or just stick with crypto trading?

Part of our mission is to be a one-stop service provider for Canadians for all things crypto, so we’re actively exploring other opportunities, whether that’s in the space of NFTs, stablecoins, DAO liquidity tokens, liquidity pools, bonds or other synthetic plants. We actively seek to add new features and options to our traders and we recently launched a new NFT brokerage service. As more opportunities and investments become available to the public, details of these services will be posted to our community channels in due course.

What types of personalized services do you offer your users?

We try to offer services tailored to the needs of our users. For example, as mentioned above, users of our VirgoCX Wealth service can gain professional market insights and use our custom APIs to streamline their trading experiences. Our high net worth clients are also assigned dedicated onboarding specialists to ensure a smooth onboarding and trading experience, and we offer these traders preferential pricing and personal support such as: B. Price Monitoring and Blocking.

Other traders such as OTC customers can enjoy fast settlements, which are instant or between instant and T+1 for cryptocurrency trades, depending on the user’s banking situation. We also offer flexible post-trade settlements, but only at the user’s request and within the scope of our banking partnerships and our platform capabilities. Finally, thanks to our trading API, private users and own trading companies can automate and execute their own trading strategies 24/7, always with the knowledge that they are trading at optimal prices.

Who can use your OTC Direct service and where can the service be accessed? Are there restrictions on where your services can be used? What about token trading of competing services like Binance or Binance Smart Chain products?

First, OTC Direct is offered to individuals and entities that wish to trade at least $30,000 CAD. Our existing client base includes wealthy individuals, institutions, mining companies and public companies. The service can be found at otc.virgocx.ca and works on both mobile and desktop. There are no restrictions on using the service and all institutions are welcome to use OTC Direct. However, OTC Direct is not available in the United States due to local commerce laws.

Regarding Binance and Binance Smart Chain products, we currently do not support trading of these crypto tokens and assets on OTC Direct.

Thanks for your answers. Before we unsubscribe, what’s next?

We are constantly making the backend infrastructure developments and platform improvements needed to support a broader range of crypto services and features, and we look forward to the eventual launch of these products and offerings once they are ready. As previously mentioned, we have already launched our brand new NFT brokerage service, in addition to OTC Direct which many clients are already using.

We have a retail platform that supports fast and secure cryptocurrency trading, even in smaller volumes, and VirgoCX Wealth, the new VirgoCX sub-brand that includes OTC Direct, OTC Chatbroker and NFT brokerage service, is also gaining slowly but steadily gaining traction. From there, we will see what our users want and need and where the market is going, and we will offer trading pairs, services and other opportunities that fit our mission and our users’ expectations.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended as investment advice.

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