The US-based subsidiary of crypto exchange heavyweight Binance has reportedly an over-the-counter platform to support trading with a minimum value of $10,000 and up. 

Specifically revealed on May 11th, the OTC portal has reportedly rolled out facilitating features for 12 digital coins, along with U.S. dollars, with USD withdrawal option is only accessible for clients who have completed Level 3 Fiat Verification – which reportedly has the strict Know Your Customer protocol across the platform. 

All settlements will reportedly be transferred straight into the Binance.US accounts in the possession of clients. 

The negotiating process of OTC trades will be conducted directly between the buyer and the seller, and will not be recorded in the exchange’s public order books, as disclosed by Binance.

Despite the support features for OTC trades reportedly do not come with any additional charges, spreads will be present, meaning that the provided price from the exchange will fluctuate around the market price, according to the activity executed by the customer (selling or buying). 

The US division of the international exchange, established in September last year, is available throughout America, with the exception of the following states: Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont, and Washington.