VirgoCX's Managing Director Discusses How VirgoCX Wealth Helps Reaffirm Its Position As Canada's Premier Cryptocurrency Trading Platform

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VirgoCX, one of Canada’s top regulated cryptocurrency trading platforms, was founded in 2018 with a mission to become the premier, full-service solution of choice for Canadians for cryptocurrency trade and investment. The company is committed to making cryptocurrency trading safe, easy, and affordable, and the platform is dedicated to delivering a streamlined trading experience and empowering clients with advanced technology, superior liquidity, and best-in-class security.

VirgoCX recently rebranded its full-service over-the-counter (OTC) trading desk to VirgoCX Wealth, a new, elite, premium service targeted 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 facilitate the transition of traders from retail trading to over-the-counter trading, VirgoCX Wealth is raising the bar and is redefining the definition of best-in-class crypto trading services.

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

Hello Jonathan! Let’s jump right into things. For some background, can you please tell our audience a little about VirgoCX’s achievements since you started?

Sure. Since our inception, VirgoCX has successfully conducted its third-party AML (anti-money laundering) and financial audits, surpassed a trading volume of 500 million USD, launched OTC Direct for round-the-clock institutional access to liquidity, and we also launched the first NFT brokerage in Canada.. These are in addition to the recent rebranding of our OTC desk to VirgoCX Wealth, our premier crypto trading service.

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

Certainly. VirgoCX Wealth is designed to make the cryptocurrency market as easy to use as traditional financial services. By doing this, we can provide our traders with a deep pool of liquidity – deep enough to even fill large orders by institutions and high-net-worth investors. With VirgoCX Wealth, our customers can avoid price slippage, and they can trade in a wide range of global fiat currencies while enjoying round-the-clock support, rapid settlement of trades, and quick access to funds.

We feel that the rebrand from OTC to VirgoCX Wealth more closely aligns with our vision of where Over-The-Counter trading desks in Canada will move and, like our counterparts in traditional markets, we aim to cater to more advanced traders while providing best in class service.

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

Sure. One of the first components required to ensure fair, competitive pricing is ensuring access to liquidity. For our Over-the-Counter trading, we have partnered with local banks and financial institutions and we leverage in-house technology that allows us to provide our traders with access to exclusive, secured, and automated liquidity from around the world. This provides our traders with the fast and instant access to deep liquidity needed to support fair, competitive trading.

Another component of trading is what is known as Optimal Price Execution. With Optimal Price Execution, we help our users – usually brokers or institutions – execute large quantities of trades at a price that is significantly better than that of our competitors. It helps these enterprise-grade traders reduce the cost of trading and extend more lucrative offers to their clients.

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 as well as an API. This gives our users the flexibility to trade on the go, from home, or via automated applications. Wherever you are or however you want to trade, VirgoCX OTC Direct has you covered. 

Together, these three components – instant access to deep liquidity, Optimal Price Execution, and fast, efficient, user-friendly interfaces and experiences – have helped us remain a step ahead of other platforms out there.

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

Well, it depends on the trading volumes in question. Comparing VirgoCX OTC with retail platforms in Canada, investors can generally save at least 1% of their notional investment value.

With regards to 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 of the high-cap coins such as BTC, ETH, USDT, and many more, and additional tokens will also be added in due course.

Do you or will you provide support for other blockchain investments, or will you stick to crypto trading only?

Part of our mission is to be a one-stop services provider for Canadians for all things related to crypto, so we are actively looking at other opportunities, whether in the space of NFTs, stablecoins, DAO liquidity tokens, liquidity pools, bonds, or other synthetic investments. We actively look to add new features and options to our traders, and we recently launched a new NFT brokerage service. As other opportunities and investments are opened to the public, details on those services will be published on our community channels in due course.

What kinds of personalized services do you provide to your users?

We try to offer services that are tailored to our users’ needs. For example, as mentioned above, users of our VirgoCX Wealth service can gain professional market insights and use our custom APIs to optimize their trading experiences. Our high-net-worth clients are also assigned designated onboarding specialists to help ensure a smooth onboarding and trading experience, and we offer preferred pricing and personal assistance to these traders, such as price monitoring and locking.

For other traders such as OTC customers, they can enjoy rapid settlements that are instantaneous for cryptocurrency trades or between instant and T+1, depending on the user’s banking situation. We also provide flexible post-trade settlements but only at the user’s request and within the limits of our banking partnerships and our platform capabilities. Finally, thanks to our trading API, private users and proprietary trading firms can automate and execute trading strategies of their own around the clock, always with the assurance that they are trading at optimal prices.

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

Firstly, OTC direct is offered to individuals and entities that plan to execute trades worth at least 30,000 CAD. Our existing clientele includes high-net-worth individuals, institutions, mining firms, and public companies. The service can be found at otc.virgocx.ca and works on mobile as well as 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 trading laws.

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

Thank you for your answers. Before we sign off, where do things go from here?

We are steadily making the backend infrastructure developments and platform enhancements needed to support a wider array of crypto services and features, and we are excited about the eventual launch of these products and offerings once they are ready. As mentioned earlier, we have already launched our brand new NFT brokerage service, and that is in addition to OTC Direct which many customers are already using.

We have a retail trading platform that supports the fast and secure trade of cryptocurrencies in smaller amounts as well, and VirgoCX Wealth, which is the new sub-brand of VirgoCX and contains OTC Direct, OTC Chatbroker, and the NFT brokerage service, is also slowly but steadily gaining traction. From there, we’ll see what our users want and need and where the market is heading and will offer trading pairs, services, and other opportunities that match our mission and our users' expectations.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.