Companies with recurring treasury operations
Corporate treasuries converting €100K+ a month between fiat and USDC for runway management, stablecoin reserves or multi-currency operations.
Institutional OTC desk · For companies with recurring volume
OTC desk for high-volume conversions between fiat and USDC
Conversions from €100,000 per operation or €500,000/month of recurring volume. T+0 settlement, access to multiple liquidity providers and a dedicated OTC advisor. No exchange frontend, no public order book, no slippage from book depth.
Minimum €100,000/operation · T+0 settlement · Availability subject to jurisdiction
OTC · Firm quote 14:32:07.412 CET
Pair
EUR / USDC
Direction
Sell EUR
Nominal
500 000,00 €
Rate
1,0842
Receive
542 100,00 USDC
Settlement
T+0
Acceptance window 00:01:48
Technical specifications
Minimum per operation €100,000 or equivalent in any supported pair
Minimum recurring volume for preferred conditions €500,000/month
Supported pairs EUR/USDC, USD/USDC, MXN/USDC, BRL/USDC, GBP/USDC, USDT/USDC, EUR/USD, EUR/MXN, USD/MXN and others on request
Execution model Agency execution with access to multiple liquidity providers + own book for medium tickets
Settlement T+0 (same day) under standard conditions. T+1 for operations requiring additional AML validation
Operating window Mon-Fri 08:00-20:00 CET for staffed desk. Operations outside the window by prior agreement
Quote Firm quote valid during the agreed window (typically 60-120 seconds) or RFQ depending on the operation
Fee Spread negotiated case by case by pair, volume and jurisdiction. No additional platform surcharge.
Post-settlement custody Regulated Tier-1 in your Kunga business account, with corporate segregation
Operational documentation Trade confirmation per operation with all the data for your accounting and tax reporting
Supported jurisdictions Europe (EU+UK), US, Mexico, Brazil, United Arab Emirates. Others under case-by-case evaluation
Regulatory compliance MiCA + AML/CTF + sanctions verification (OFAC, EU, UN) on every operation
The specific spread, quote window and settlement conditions are agreed in writing before starting operations. The term sheet reflects exactly what was agreed.
The OTC operation process, step by step
Step 1 · 1/5
Request for quote (RFQ)
You contact your dedicated OTC advisor (via secure chat, signed email or call). You indicate the pair, direction of the operation (buy or sell), nominal amount and urgency indicator.
Your advisor responds in seconds during the operating window.
Against institutional alternatives
Comparison based on known public conditions Q1 2026 and typical institutional OTC feature sets. Specific conditions depend on volume, jurisdiction and contractual relationship. Kunga OTC doesn't replace crypto-pure desks for complex onchain operations — it complements them with the integrated operational fiat layer.
Which type of company it's for
Web3 companies with protocol income or recurring USDC revenue
Protocols, Web3 platforms or crypto-native companies with monthly USDC income needing to convert part to fiat for corporate operations.
Brokers, fintechs and regulated companies needing FX and crypto conversion
Licensed companies (broker, EMI, VASP) needing FX operations and crypto-fiat conversion with reporting that satisfies their own regulatory requirements.
Importers/exporters with high recurring volumes
Foreign trade companies with supplier payments and distributor collections above €500K/month equivalent that benefit from negotiated spreads versus standard rates.
Compliance and reporting of every operation
Institutional OTC operations have specific regulatory requirements: trade reporting, reinforced AML/CTF compliance, verified counterparty KYC/KYB, solid contractual documentation. Kunga OTC operates under:
Regulatory framework
MiCA for crypto operations, the European AML/CTF directive for all operations, verification of international sanctions (OFAC, EU, UN, FATF) on every operation. Operations documented and reported to competent authorities per European regulation.
Reinforced KYB for OTC clients
Due to the volumes operated, the KYB for OTC desk access is more thorough than the company standard. It includes sector analysis, beneficial owners, source of funds, the client's internal AML policy and due diligence proportional to estimated volume.
Trade confirmation and master operating agreement
Before starting OTC operations, a master agreement is signed defining the exact terms of the relationship: covered pairs, operating windows, settlement procedures, dispute resolution. Each subsequent operation executes under that framework with its individual trade confirmation.
Auditable documentation for your regulatory reporting
If your company is regulated (broker, EMI, fintech, VASP), we provide specific documentation that meets your regulator's reporting requirements. Trade-by-trade, monthly or ad hoc as needed.
Conflict of interest disclosure
We operate a mixed model (agency execution + own book for medium tickets). The model applicable to each operation is documented in the trade confirmation, with no ambiguity about the nature of the counterparty in each trade.
The specific regulatory documentation your company or your regulator requires is agreed in the master agreement. For regulated companies (brokers, EMIs, VASPs), pre-validation with an advisor before starting terms negotiation.
Frequently asked questions about OTC operations
How is the spread applied to each operation determined?
The spread is negotiated case by case based on the pair, notional volume, direction of the operation, jurisdiction of the counterparties, urgency and market volatility at the moment of the quote. For clients with recurring volume, framework conditions are established in the operating agreement that apply to operations within agreed parameters. There is no standard public spread rate for OTC.
Does Kunga act as a direct counterparty or as an agent?
Mixed model. For medium tickets and pairs with sufficient internal liquidity, Kunga may act as a direct counterparty (principal trading). For larger operations or specific pairs, Kunga acts as an agent executing against multiple institutional liquidity providers. The model applicable to each operation is documented in the trade confirmation. No operational ambiguity.
What happens to the operation if there's an adverse market move during the acceptance window?
The firm quote has an agreed acceptance window (typically 60-120 seconds, adjustable by pair volatility). During that window, the quoted FX rate is binding. If you accept within the window, the operation executes at the agreed rate regardless of subsequent market movement. If the window expires, it requires a new RFQ.
Is there access to operations outside the standard window (8:00-20:00 CET)?
Yes, by prior agreement. For clients with 24/7 operational needs (typically Web3 companies, exchanges, global brokers), specific conditions with extended coverage are agreed. For one-off operations outside the window, prior contact with your advisor to validate availability.
What documentation is signed before starting operations?
After approved reinforced KYB, a master OTC agreement (Master Trading Agreement) is signed defining the terms of the relationship: covered pairs, minimums and maximums per operation, operating windows, settlement procedures, dispute resolution, confidentiality, applicable jurisdiction. Each subsequent operation executes under that framework with its individual trade confirmation.
How long does onboarding take from first conversation to first operation?
It depends on the client profile, jurisdiction of incorporation, corporate complexity, sector and estimated volume. For companies with a standard corporate structure and complete documentation, the process can be completed in reasonable timeframes. For regulated companies (brokers, EMIs) or complex structures, it takes longer due to the specific due diligence. Your advisor gives you realistic expectations in the first conversation.
OTC desk for companies with institutional operating volume
Initial contact with an OTC advisor to discuss your operations, expected volumes, pairs of interest and applicable conditions. The conversation is under confidentiality and with no commitment.
Reinforced KYB · Standard T+0 settlement · Master operating agreement before first operation