Frequently Asked Questions on HashKey MENA OTC

1. What is "Over-the-Counter(OTC)" block trading and how can I start using this product?

HashKey MENA OTC service offers efficient large-scale digital asset transaction solutions, providing more convenient web-based and in-app trading channels compared to traditional email-based order placement. We offer two settlement methods—fast settlement (instant settle) and flexible settlement (T+2)—to meet varying liquidity needs, while providing transparent pricing with no hidden fees, ensuring efficiency and security for large-scale transactions.

2. Are there any minimum or maximum limits for HashKey MENA OTC?

Minimum trading volume is USD$50,000 or an equivalent amount in virtual currency for a single OTC transanction. The maximum limit is USD$1,000,000 or an equivalent amount in virtual currency for a single OTC transanction. If your transaction exceeds this limit, please split it into multiple trades.

3. What are the trading hours for OTC?

Monday – Friday (9am -5pm, GST) – No services during UAE public holidays. If you have any enquiry outside our business hours, please contact your account manager or contact us via [e-mail]

4. How long does settlement take for block trading?

Once trading price is confirmed and executed, no cancellation or amendment is allowed. Trade settlement will be completed directly in your HashKey MENA spot trading account. We have two settlement methods: fast settlement and flexible settlement.

5. What is the difference between fast settlement and flexible settlement?

Fast settlement: The settlement will process immediately after the trade is executed.
Flexible settlement: The settlement will be completed within 0-2 business days(T+2), offering a flexible settlement arrangement.

6. Are there any trading fees for block trading?

The prices we display are all-inclusive, covering all trading costs with no additional fees. We are committed to providing a market-competitive price.

7. What is the validity period of a quote for block trading?

After clients submit a quotation request, our trader will provide a time-sensitive quote. The duration of quote validity differs for different currencies, typically as follows:

• Stablecoins: 10 minutes
• Non-stablecoins: 5 seconds to 1 minute

Note: Quotes that are not confirmed within the validity period will automatically expire, clients will need to place the order again.

8. How should I understand the different order statuses for OTC (pending confirmation, under settlement, expired, completed)?

• Pending Confirmation (includes 3 scenarios):
Pending Client Confirmation: Waiting for the client to confirm or reject the quote.
Pending Platform Quote: The trader is processing the inquiry.
Pending Platform Confirmation: The trader is reviewing the trade details and finalizing the confirmation.
• Under Settlement: The trade has been confirmed and is awaiting settlement.
• Expired: The quote has timed out without confirmation or has been withdrawn due to market fluctuations. In all such cases, it is considered expired, and the client needs to reinitiate the inquiry.
• Completed: The order has completed the settlement process, and the corresponding assets have been deposited into the client’s spot trading account.

9. How do I do deposit/withdrawal on HashKey MENA?

Please refer to How do I deposit funds from my personal wallet to HashKey MENA? & How do I withdraw digital assets from HashKey MENA to my personal wallet? on crypto deposit/withdrawal and How do I deposit fiat currency into my HashKey MENA account? & How do I withdraw fiat currency from HashKey MENA? on fiat deposit/withdrawal.