We are happy to announce the cooperation agreement recently reached with Confideal ltd. The tool designed by our new partner allows to create smart contracts on the Ethereum blockchain.
The prospective case of such smart contracts application is creation of additional spaces for OTC trading implemented via Confideal interface on the basis of existing exchanges. This solution will facilitate initial use of our trading platform by fiat assets holders and provide active users with the opportunity to deal directly among themselves. A contract is considered satisfied, once all the terms & conditions defined by the parties on their own during creation of a smart contract, are met.
“We consider Confideal to supply our clients with extended fiat gate. Thanks to that, DEEX will be able to increase its volume of trades and attract new users. The arbitration mechanism envisaged by our partners shall protect both parties of an OTC deal from any harming of their interests as a result of any force majeure”, – the DEEX CEO, Vladislav Sapozhnikov has noticed.
OTC (Over-the-counter) is a special term which means off-exchange trades commited directly among clients and market makers. In such a case, a buyer and a seller normally make a deal without the involvment of any third parties. OTC trading used to be an important tool in traditional markets, and recently it started to be widely used in the crypto sphere as well.