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.
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
Step 1: Navigate to the OTC Activation Page
Open the Matrixport Website and log into your account.
Click [OTC] in the top navigation bar.
Click [Apply Now].
Step 2: Navigate to the OTC Page, click [Apply Now].
Step 3: Select [Individual] and click [Confirm].
Step 4: Before activating the OTC function, prepare the following:
Valid Passport or ID Card: Clear front and back photos.
Bank Account Information: Including bank name, SWIFT code, bank address, account name, and account number.
Proof of Address (within the last 6 months): Such as a bank statement or utility bill displaying your name and address.
Resume/Linkedin of the applicant (Applicable if majority of your wealth is from employment).
Step 5: Navigate to Questionnaire filling
click [fill in now].
2. Click [continue].
3. Fill in the questionnaire.
4. Complete the questionnaire by signing.
Step 6: Navigate to provide Personal Information
Personal Details:
Full Name (Chinese/English): Must match your ID document.
Date of Birth: Select your date of birth.
Email: Enter your primary email address.
Phone Number: Enter your primary mobile number with country code.
Nationality: Choose your nationality.
ID Type: Choose between ID card or passport.
ID Number: Enter your ID number.
Residential Address: Provide your full residential address.
Step 7: Wealth and Transaction activity information:
Purpose of Opening Account: e.g., “Investment Management.”
Estimated Trade Order Size: Input the estimated trade amount per month (in USD).
Total Net Worth: Enter your total assets in USD. (Optional)
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)
Step 8: Bank Account Details:
You must enter real bank account details. Once approved, the system will automatically bind the bank account for buy and sell operations.
Bank Name: Enter the full bank name (e.g., “China Merchants Bank”).
SWIFT Code: Input the bank’s SWIFT code (e.g., “MSBCHKHDXXX”).
Account Address:
Country
Current Residential Address
Zip 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.
Step 9: Check CTC Mode:
Users can select one of the following methods:
Certified True Copy (CTC) Mode:
No facial recognition required, but these required documents must be certified.
Non-CTC Mode:
Facial recognition required, butthese required documents does not need certification.
Use phone to scan the code to initiate the face verification, and click the [View Results] to check the verification result.
Step 10: Acknowledge to risks, and Submit Application.
2.2 Adding a Bank Account
Users can add additional bank accounts for buy/sell operations.
Steps to Add a Bank Account:
1. Open the Matrixport Web and log in.
2. Go to [Wallet] > [OTC].
3. Click the current Bank Account at [Choose Bank Account].
4. Click the [Add Bank Account].
5. Navigate to Bank Management Page.
6. Click the [Add Bank Account].
7. Provide Bank Account Details and upload the bank statement.
8. Click the [Add] to submit the process, and wait for the verification process.
2.3 Buying Cryptocurrency
Step 1: Navigate to the OTC Page
Open the Matrixport Web and log in.
Click [OTC] and select [OTC Buy Coins].
Step 2: Enter Transaction Details
Select Cryptocurrency: Choose from available options like USDC or USDT.
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: Submit and confirm the order details
click the [Submit], and Navigate to Order Confirmation page
2. Confirm the details are correct and Click [Confirm] to check the Submit result.
3. Click the [Transfer Info] to view the transfer indications.
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 Records].
2.4 Selling Cryptocurrency
Step 1: Navigate to the OTC Page
Open the Matrixport Web and log in.
Click [OTC] and select [OTC Sell Coins].
Step 2: Enter Transaction Details
Select Cryptocurrency: Choose from available options like USDC or USDT.
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: Submit and confirm the order details
click the [Submit], and Navigate to Order Confirmation page
2. Confirm the details are correct and Click [Confirm] to check the Submit result.
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 Records].
3. Institutional User Guide
3.1 OTC Function Activation Process
Step 1: Navigate to the OTC Activation Page
Open the Matrixport Website and log into your account.
Click [OTC] in the top navigation bar.
Click [Apply Now].
Step 2: Navigate to the OTC Page, click [Apply Now]
Step 3: Select [Institutional] and click [Confirm].
Step 4: Before activating the OTC function, prepare the following:
Certificate of Incorporation
Constitutional Documents (e.g. Articles of Association)
List of Directors and Shareholders (dated within the last 6 months)
Company Structure and Shareholding
Board Resolution (For SG and HK incorporated companies); Letter of Authority (For all other countries)
Authorised Representative - Identification document(s) and address proof(s) (dated within last 6 months)
Ultimate Beneficial Owner / Controller - Identification document(s) and address proof(s) (dated within last 6 months)
Business Registration or equivalent (For Hong Kong entities only)
Entity's AML/KYC policy
AML Questionnaire
Proof of Wallet Address Ownership (Applicable to OTC Singapore)
Proof of Registered Office Address (Applicable to OTC Singapore)
Latest Bank Account Statement (For fiat settlement where applicable)
Administrator Appointment Letter (Applicable for Cactus)
Step 5: Fill in Entity Onboarding Form
Choose the Country of Incorporation
Choose the Country of Principal Place of Business
Choose the Entity Type
Step 6: Provide Company Information:
Company Details:
Entity Name: Enter the full registered company name.
Incorporation Number: Enter the full registered entity name.
Date of Incorporation: Enter the company’s formation date.
Registered Address: Provide the company’s full registered address. if the Business Address is the same as Registered Address, then tick the box.
Business Address: If Business Address is not the same as Registered Address, provide the business’s full address.
Corporate Website: If there is an corporate website, then select [YES] and provide the website. Otherwise, select [NO].
Purpose of Opening Account: e.g., Investment Management, Digital Asset Trading.
Source of Wealth: select source of wealth.
Source of Funds: select source of funds.
Industry Classification: select the category of the industry.
Nature and Details of Business.
Do you have any intermediary beneficial ownership structure: select from the situations.
Estimated Size of Total Transaction/month: Enter the expected transaction volume per month.
Estimated Number of Transactions/Month: Enter the expected transaction number per month.
Total Net Assets: provide the net assets in USD.
Total Assets under Management (Applicable): provide total assets under management in USD.
Type of Digital Asset used: provide the type of digital asset used by the entity.
Step 7: Applicable to Omnibus Account
Please indicate ‘Yes' for all VASPs and Omnibus relationships (Underlying clients with direct access to our platform services). Otherwise, indicate 'No’.
For [Yes to Applicable to Omnibus], please specify whether the company licensed in a FATF member jurisdiction:
If 'Yes', please proceed to provide: Name/Jurisdiction of Regulator; Name of License.
If 'No', please proceed to provide:
a list of all jurisdictions in which you provide or market its products or services
Subsidiaries, branches or registered offices
Provide (1) a list of all jurisdictions in which your underlying customers are located at and (2) the approximate percentage of your customer base located in each of the jurisdictions.
Operation locations of your downstream VASPs
Step 8: Applicable to Fiat Services
For Applicable to Fiat Service, proceed to provide Bank Account details
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”).
Account Address:
Country
Current Residential Address
Zip 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.
Upload the Bank Statement.
Step 9: Complete the Declaration
Step 10: Proceed with Non-Solicitation
Step 11: Complete Acknowledgement and proceed to next step
Step 12: Upload Verification Documents
Required Documents:
Certificate of Incorporation
Constitutional Documents (e.g. Articles of Association)
List of Directors and Shareholders (dated within the last 6 months)
Company Structure and Shareholding
Letter of Authority
Business Registration or equivalent(For Hong Kong entities only)
Entity’s AML/KYC Policy
AML Questionnaire
Proof of Wallet Address Ownership (Applicable to OTC Singapore)
Proof of Registered Office Address (Applicable to OTC Singapore )
Latest Bank Account Statement (For fiat settlement where applicable)
Other Supporting Documents
Step 13: Related Party Information
Tick the role of related party ‘Authorised Representative’, ‘Ultimate Beneficial Owner/Controller’ or ‘Director’. If holding more than 1 role, please select the roles accordingly.
2. Fill in details of related parties
Step 14: Submit
click 'Submit’ once you are ready to submit your application.
4. Transaction History & Management
4.1 View Transaction History
In the WEB, click [OTC] > [Transaction Records].
View details of all buy/sell orders and their statuses.
4.3 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.
5.4 Review Processing Time
Individual Users: Typically 3-5 business days.
Institutional Users: May take longer due to document verification complexity.
6. Frequently Asked Questions (FAQs)
Q1: Why was my OTC activation request rejected?
Possible reasons:
Invalid or incomplete documents.
Incorrect or inconsistent information.
Failure to provide all required documents.
Solution:
Double-check and update your submitted information.
Ensure all documents are clear, accurate, and complete.
If unsure, contact Matrixport customer support.
Q2: How do I add a new bank account?
Follow the steps in [2.2 Adding a Bank Account].
Submit your new bank account details and upload the required documents.
Await approval.
Q3: What is the minimum transaction amount for buying/selling crypto?
USD 50,000 per trade.
Q4: What if my transferred funds haven't arrived?
Allow 0-3 business days for processing.
Verify that you entered the correct transfer remark code.
If delayed beyond the expected timeframe, contact customer support.
7. Contact Customer Support
If you need assistance, contact Matrixport customer support via:
Email: [email protected]
APP Live Chat: Go to [My] > [Help & Support] > [Contact Support].