What Does an OTC Desk Actually Do, From Quote to Settlement?

An OTC desk, short for over-the-counter desk, is a trading team that negotiates a price for a large transaction directly with a client, rather than routing it through a public exchange order book. For a large stablecoin conversion, Sentvia's trading team agrees a quote, the client sends the stablecoin, and the fiat equivalent is paid into the client's named account, without the trade appearing on any public order book or moving the market price.

Why size changes how a trade should be handled

• Used for: conversions large enough that working the order on a public exchange would move the price against the client before it filled.
• Price: agreed and locked before the client sends anything.
• Settlement: paid into the client's own named account, not held on an exchange balance.

At small size, a public exchange order book works fine. Past a certain size, working an order publicly can move the price against you before it fully fills, an effect known as slippage. There's no single threshold that applies to everyone; it depends on the asset's typical trading volume and how much of that volume your trade represents.

Quote to settlement, step by step

1. You request a quote for a specific amount.
2. Sentvia's trading team prices the trade against current market conditions and locks it for an agreed window.
3. You send the stablecoin to the address given for that trade.
4. The payment is checked against standard regulatory requirements.
5. The fiat proceeds are paid into your named account.

Terms used on this page

• OTC desk: a trading team that agrees a price with a client directly, instead of routing the trade through a public exchange.
• Slippage: the price movement that happens when a large order works through a public exchange's available liquidity.
• Order book: the public list of buy and sell orders on an exchange.

Frequently asked questions

How is an OTC price different from an exchange price?

An exchange price is whatever the public order book offers at the moment your order fills, which can move as your order works through it. An OTC price is negotiated and locked with a trading team before you send anything.

Can I lock a rate before I send the stablecoin?

Yes, that's the point of an OTC quote. The rate is agreed and held for a window before you send funds, so you know what you'll receive before you commit.

Is there a minimum size for this?

It depends on the asset and current market conditions rather than a fixed number. Ask for a quote and you'll find out quickly whether OTC handling makes sense for your size.

Does the trade become public?

No. It doesn't appear on a public order book the way an exchange trade does, which is exactly why it doesn't move the market price against you.

Related reading

• How businesses convert stablecoins to fiat, currency by currency: /blog/stablecoin-to-fiat-settlement
• What does it actually cost to off-ramp $100,000 of USDT? /blog/cost-to-off-ramp-usdt-fees
• How to choose a stablecoin off-ramp provider for your business: /blog/stablecoin-off-ramp-providers-compared

Sources

• Boston Consulting Group and Allium Labs, January 2026: real economy stablecoin payments grew to an estimated 350 to 550 billion US dollars in 2025. https://www.bcg.com/assets/2026/white-paper-stablecoin-payments-truth-behind-numbers.pdf
• Boston Consulting Group and Allium Labs, January 2026: the TRON network carries an estimated 60 to 80 percent of real economy stablecoin flows. https://www.bcg.com/assets/2026/white-paper-stablecoin-payments-truth-behind-numbers.pdf