Shakepay is a Canadian over-the-counter crypto asset trading platform designed for high net-worth persons and businesses who wish to transact large amounts of Bitcoin and Ethereum. According to the CEO of Shakepay, Jean Amiouny, the platform was established to satisfy the demand for a customized solution for trading large volumes of digital assets.
The minimum acceptable investment on the Shakepay OTC platform is CA$50,000. Users can trade the Canadian fiat currency in pairs against Bitcoin and Ethereum. The platform charges a 0.75% trading fee for each transaction which usually takes one business day to settle. The project, which had been testing for the past 12 months, will be operated in partnership with Schedule 1 Bank.
Besides the OTC trading desk, Shakepay also has a cryptocurrency wallet that allows users to transact fiat money against digital currencies. The wallet has several features, including in-app customer support, instant verification, multi-currency support, price alerts and so on. Moreover, Shakepay previously offered crypto-enabled Visa cards but has since discontinued the program. The discontinuation was a result of a directive from Visa to Wave Crest, a partner to Shakepay in this project. Visa ordered wave crest to close all accounts linked with prepaid cards.
Since its inception in 2015, Shakepay has served 40,000 customers and transacted over CA$30 million. Furthermore, the company has been recording significant growth over the past few months. Amiouny stated that the company intends to further this growth by continuously adding new features to their trading platform.
Features Of Shakepay OTC Trading Platform
- Swift settlement – transactions are settled within one business day.
- Affordability – the platform charges 0.75% trading fee. Notably, withdrawals are free of charge.
- Sufficient Liquidity – the OTC desk is lined with leading crypto exchanges as well as offline liquidity pools.
- BTC & ETH Trading Pairs – users can trade the Canadian dollar against Bitcoin and Ethereum.
- Regulatory Compliance – Shakepay is accredited to operate throughout Canada by the AMF and FINTRAC.
- Professional Trading Team – the Shakepay trading team is made of seasoned expert investors.
- Concierge Service – Shakepay offers custodial services for their users.