INDEPENDENT NEWS

BitPrime OTC To Resume Live Trading

Published: Fri 20 May 2022 12:57 PM
New Zealand-based cryptocurrency retailer, BitPrime, is to resume live trading on its OTC platform today following the successful launch of The BitPrime Supporter Initiative. This partial resumption of BitPrime’s services comes as a result of successful negotiations with a key liquidity provider.
Last week, BitPrime informed customers that all trading had been suspended, as the company couldn’t guarantee fast trading execution and liquidity of customer funds following recent extreme market volatility. As a result of this announcement, BitPrime received numerous offers of financial support and services in kind from both customers and a range of existing stakeholders.
“We’re continuing to execute our recovery plan and still have a lot of work to do. While we aren’t yet in a position to resume trading on the retail platform, we’re opening our OTC platform to all customers as an interim solution,” says Ross Carter-Brown, CEO. “We hope to have more information soon about resuming live trading on our retail platform.”
Advanced negotiations to fully recapitalise the company are continuing with a number of interested parties.
"I would like to personally thank the BitPrime community, staff, stakeholders, and the broader business community for their ongoing support. Today's win was a direct result of your ongoing support," says Carter-Brown.
BitPrime’s OTC trading desk works with a 3rd party custodian with best-in-class physical and digital security and is insured against loss, damage, destruction or theft of digital assets.
More details on The BitPrime Supporter Initiative can be found at https://bitprime.co.nz/supporters. Contributors will receive rewards ranging from participation in a governance DAO to a lifetime PrimePass. DAO members will vote on the company’s future direction and propose and vote on resolutions. PrimePass members receive fee-free trading for the duration of their membership.
ABOUT BITPRIME
New Zealand owned, BitPrime is at the forefront of full-service cryptocurrency trading solutions in the country. We're passionate about our professional service and have a strong focus on providing free education and tech support for beginners through to professional investors. BitPrime is here to make it easy and secure to trade digital assets. BITPRIME LIMITED (FSP595609) Registered.

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