1. Overview

The OTC (Over-the-Counter) function of Matrixport provides users with large-scale digital asset trading services, with a minimum transaction amount of USD 50,000 per trade. This function supports both individual and institutional users:

Individual Users: Can apply for OTC function activation via the APP or Web.
Institutional Users: Can only apply for OTC function activation via the Web.

This guide provides a detailed explanation of the OTC activation process, adding a bank account, and the buy and sell procedures to help you efficiently use Matrixport’s OTC services.

2. Individual User Guide

2.1 OTC Function Activation Process

2.1.1 Activation via APP

Step 1: Navigate to the OTC Activation Page

Open the Matrixport APP and log into your account.
Tap [Wallet] in the bottom navigation bar.

Go to the [Fiat] page and select the [OTC] entry.

If the user has already passed Matrixport APP’s KYC verification, they will be directed to [OTC Activation Preparation].
If the user has not yet passed KYC verification, they should select [OTC - Individual], then tap [Activate].

Step 2: Prepare Required Documents

Before activating the OTC function, prepare the following:

Valid Passport or ID Card: Clear front and back photos.
Proof of Address (within the last 3 months): Such as a bank statement or utility bill displaying your name and address.
Bank Account Information: Including bank name, SWIFT code, bank address, account name, and account number.

Step 3: Fill in Personal Information

Personal Details:

Full Name (Chinese/English): Must match your ID document.
ID Type: Choose between ID card or passport.
ID Number: Enter your ID number.
Date of Birth: Select your date of birth.
Nationality: Choose your nationality.
Phone Number: Enter your primary mobile number.
Email: Enter your primary email address.
Residential Address: Provide your full residential address.

Wealth and Trading Activity Information:

Purpose of Opening Account: e.g., “Investment Management.”
Estimated Trade Order Size: Input the estimated amount per trade (in USD).
Total Net Worth: Enter your total assets (in USD).
Sources of Wealth (Multiple Choices Available):
- Salary Income
- Trading and Investment Profits
- Business Ownership
- Gifts and Inheritance
- Other (Specify)
Sources of Funds (Multiple Choices Available):
- Personal Savings
- Crypto Mining
- Investment Returns
- Business Dividends
- Loans
- Other (Specify)
Types of Digital Assets: Choose the digital assets you plan to trade, such as Bitcoin, Ethereum, etc.

Step 4: Provide Bank Account Information

You must enter real bank account details. Once approved, the system will automatically bind the bank account for buy and sell operations.

Bank Account Details:

Bank Name: Enter the full bank name (e.g., “China Merchants Bank”).
SWIFT Code: Input the bank’s SWIFT code (e.g., “MSBCHKHDXXX”).
Bank Address: If the same as the residential address, check [Same as Residential Address]; otherwise, enter the full address.
Postal Code (Optional): Enter the bank’s postal code.
Account Name: Enter the account holder’s name (must match your identity information).
Account Number: Input your bank account number.
Intermediary Bank Information (if applicable): Include intermediary bank name and SWIFT code.

Bank Statement Upload:

Tap [Upload Bank Statement] and select a clear bank statement from the last 3 months (PDF, JPEG, PNG; max size 10MB).

Important Notes:

The bank account name must match your Matrixport identity.
Ensure the uploaded bank statement is clear and complete, displaying your name, bank account details, and bank name.

Step 5: Upload Required Documents

Upload the following files according to the instructions:

Proof of Address: Such as a bank statement, phone bill, or utility bill showing your name and address.
- Supported Formats: PDF, JPEG, PNG
- File Size: Max 10MB
- Ensure the document is clear, glare-free, and unobstructed.

Step 6: Complete Facial Recognition

Users will be directed to a facial recognition page where they must upload their ID and complete facial verification.

Step 7: Agree to Terms and Statements

Review and agree to the following:

OTC Trading Risk Agreement (Mandatory)
Activation Declaration (Mandatory)
Privacy Policy (Mandatory)
Non-Solicitation Statement (Mandatory)
Promotional Statement (Optional) (Users can opt out of direct promotions).

Step 8: Submit Application

Review all details and tap [Submit].
You can check the application status in the [OTC] section.

2.1.2 Activation via Web

Note: The Web eKYC platform and the Matrixport APP use different accounts. If you wish to activate the OTC function via Web eKYC, you must first register an account on the Web platform.

Step 1: Log into Matrixport eKYC Platform

Open a browser and go to https://kycplatform.matrixport.com/.
If you do not have an eKYC Web account, register first, then click [Login].
If you already have an account, enter your credentials to log in.

Step 2: Navigate to the OTC Activation Page

After logging in, select the business line: OTC-SG-Individual-Fly Wing.

Step 3: Enter Personal Information

Basic Information:

Full Name (Chinese/English)
ID Type: Choose ID card or passport.
ID Number
Date of Birth
Nationality
Email Address
Phone Number
Residential Address
Matrixport APP UID (Mandatory if using APP for OTC transactions)

Wealth and Trading Activity Information:

Purpose of Opening Account
Estimated Trade Order Size
Total Net Worth
Sources of Wealth
Sources of Funds

Step 4: Provide Bank Account Information

Follow the same process as in the APP activation section to enter and upload bank account details and bank statements.

Step 5: Customer Verification

Users can select one of the following methods:

Certified True Copy (CTC) Mode:
- No facial recognition required, but proof of address must be certified.

Non-CTC Mode:
- Facial recognition required, but proof of address does not need certification.

Step 6: Agree to Terms and Submit Application

Agree to the OTC Trading Risk Agreement and Activation Declaration.
Click [Submit] to complete the application.

2.2 Adding a Bank Account

Users can add additional bank accounts for buy/sell operations.

Steps to Add a Bank Account:

Open the Matrixport APP and log in.
Go to [Wallet] > [Fiat].
Tap [Add Bank Account].

Enter bank details and upload a bank statement.

Click [Submit] to start the verification process.

2.3 Buying Cryptocurrency

Step 1: Navigate to the Buy Crypto Page

Open the Matrixport APP and log in.
Tap [OTC] and select [Buy Crypto].

Step 2: Enter Transaction Details

Select Cryptocurrency: Choose from available options like USDC.
Enter Payment Amount (in USD).

The system will automatically display:

Current Exchange Rate
Estimated Crypto Amount to Receive

Step 3: Select Payment Bank Account

Choose from your linked bank accounts for the payment.

Step 4: View Transfer Details

The system will generate transfer details, including:

Recipient Bank Account Information: Bank name, account holder name, account number, SWIFT code, etc.
Transfer Remark Code: This must be entered when making the transfer.

Important Notes:

You must use the selected bank account to make the transfer.
There may be fees charged by intermediary banks.
Expected processing time: 0-3 business days.

Step 5: Complete Bank Transfer

Use the provided recipient bank details to initiate a transfer from your bank account.
Ensure the Transfer Remark Code is correctly entered to prevent delays.

Step 6: Wait for Funds to Arrive

After completing the transfer, funds will arrive within 0-3 business days.
You can check the order status in [OTC Transaction History].

2.4 Selling Cryptocurrency

Step 1: Navigate to the Sell Crypto Page

Open the Matrixport APP and log in.
Tap [OTC] and select [Sell Crypto].

Step 2: Enter Transaction Details

Select Cryptocurrency (e.g., USDT).
Enter the Amount to Sell.

The system will automatically display:

Current Exchange Rate
Estimated Amount to be Credited to Your Bank Account

Step 3: Select Receiving Bank Account

Choose a linked bank account to receive the funds.

Step 4: Confirm the Order

Review transaction details, including amount to be sold, estimated received amount, and exchange rate.
Read and agree to risk disclaimers.

Step 5: Submit the Order

Tap [Submit] to place the sell order.

Step 6: Wait for Funds to Arrive

The funds will be credited to your bank account within 0-3 business days.
You can check the order status in [OTC Transaction History].

3. Institutional User Guide

3.1 OTC Function Activation Process (Web)

Note: The Web eKYC platform and the Matrixport APP use different accounts. If you need to activate OTC via the Web, you must first register an eKYC Web account.

Step 1: Log into Matrixport eKYC Platform

Open a browser and go to https://kycplatform.matrixport.com/.
Register and log in.

Step 2: Navigate to the OTC Activation Page

Select [OTC-SG-Institution-Fly Wing].

Step 3: Enter Company Information

Company Details:

Entity Type: Select company type (e.g., Limited Company, Partnership).
Company Name: Enter the full registered company name.
Registration Number: Enter the company registration number.
Registered Country/Region: Select the country of incorporation.
Date of Incorporation: Enter the company’s formation date.
Registered Address: Provide the company’s full registered address.
Matrixport APP UID (Mandatory if using APP for OTC trading).

Business Information:

Business Nature & Description: Provide details about the company’s primary business, industry, and scale.
Purpose of Opening Account: e.g., Investment Management, Digital Asset Trading.
Estimated Trading Volume: Enter the expected transaction volume or asset under management.

Wealth & Fund Sources:

Source of Wealth: e.g., Business Profits, Investment Gains.
Source of Funds: e.g., Client Assets, Business Revenue.

Step 4: Upload Corporate Documents

Required Documents:

Certificate of Incorporation
Articles of Association
List of Directors & Shareholders
Company Structure Chart
Board Resolution / Letter of Authorization
Ultimate Beneficial Owner (UBO) Identification (for individuals holding 25% or more).
Director’s Identification Documents

Additional Documents (if applicable):

Financial Statements
AML/KYC Policies
Wallet Address Ownership Proof

Step 5: Agree to Terms & Submit Application

Review and agree to the Privacy Policy, Data Sharing Agreement, and Non-Solicitation Statement.
Click [Submit] to complete the application.
You can check the application status in the Institutional Center.

4. Transaction History & Management

4.1 View Transaction History

In the APP, tap [OTC] > [Transaction History].
View details of all buy/sell orders and their statuses.

4.2 Order Status Explanation

Pending Transfer: Order created, awaiting your bank transfer or crypto deposit.
Processing: Order is being processed.
Completed: Order successfully completed, and funds are credited.
Canceled: Order has been canceled (details can be found in order remarks).

5. Important Notes

5.1 Transaction Limits

Minimum Limit: USD 50,000 per trade.
Maximum Limit: No upper limit.

5.2 Document Requirements

Clarity: All documents must be clear and legible.
Formats: Supported formats: PDF, JPEG, PNG.
Size: Each file must be under 10MB.
Translations: Non-English documents must be certified translations.

5.3 Bank Account Requirements

Name Matching: The bank account holder’s name must match your Matrixport identity.
Transfer Remarks: Ensure you enter the provided remark code when making a transfer.
Fees: Intermediary bank fees may apply, affecting the actual credited amount.