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OTC desk

The OTC desk handles block trades — larger or negotiated size that warrants a broker and escrow rather than an instant RFQ. It's broker-worked end to end.

Same principal model, more hands-on

Like RFQ swaps, the OTC desk settles principal and custodial-in-flight — funds route through desk escrow and a broker works the order. You keep custody of your wallet; you carry counterparty exposure to the desk through settlement. See Counterparty & custody.

When to route here

  • Size — clips large enough to want a negotiated rate over an instant quote.
  • Bespoke terms — a broker in the loop to match and settle.

For standard clip sizes, the RFQ swap is faster.

Order flow

  1. Post an order. Choose your side — Buyer or Seller — the asset/network you're offering, the asset/network you want, and size.
  2. Matching. Your order takes bids / is worked by a broker, who crosses the two sides.
  3. Escrow. The sell side funds desk escrow; the deposit is verified on-chain before the order advances.
  4. Fees. The desk fee is collected (see Pricing & fees) — split across the two sides.
  5. Settlement. With both legs and fees in place, the broker settles: each side receives its fill.

Wallet sign-in

OTC orders are bound to your wallet identity. You sign in with your wallet — a signature, not a transaction; it's free and moves no funds — so the desk can attribute your orders, bids, and fills to you.

Tracking

Every order carries a public reference ID (e.g. OTC-2026-AB12CD34EF) and a Track view — follow it through review, matching, escrow, fees, and settlement, or hand it to the broker for support.

Order states

An order advances review → matched → assets secured → fees collected → settled, with a cancel path open until settlement. The Track view shows exactly where it sits and what's next.