Original Source: BIT

BIT, a leading digital asset financial services group worldwide, today announced that it has officially launched its over-the-counter (OTC) trading business under the “Same-Named Virtual Account (Virtual Account, abbreviated as VA)” service. This move marks a milestone step forward for BIT in optimizing large fiat-acceptance channels and enhancing asset allocation experiences for high-net-worth individual and institutional clients.

For a long time, the two-way exchange between traditional fiat currencies and crypto assets has faced numerous challenges, such as complex bank reviews and delayed settlement. To address these pain points, BIT has partnered with leading global commercial banks to establish, for clients at the bank level, same-named virtual accounts, building a same-named, compliant funds closed-loop channel.

A diversified account system—limited-time promotions are now fully live

To meet the varied needs of different types of customers, BIT’s OTC trading has introduced two account product types for individual and institutional clients to choose from: Core Account (Core Account) and Plus Account (Plus Account).

· Core Account: Single-currency account, designed to meet basic USD trading needs; other currencies require an additional application. Efficient and convenient—fast account opening.

· Plus Account: Multi-currency account (supports USD, SGD, HKD, EUR). Partnered with AA-rated banks.

During the promotion period, individual and institutional customers who open the related accounts can enjoy a limited-time account opening fee discount benefit, further improving the experience of account activation and usage.

The launch of BIT’s same-named virtual account service is another important milestone for BIT as it continues to promote compliant operations and build a more open and convenient digital asset service ecosystem. In the future, BIT will continue to uphold the “customer first” philosophy, keep innovating, and provide better-quality services for users worldwide.

About BIT

BIT is a digital financial services group serving global institutional clients. It is committed to providing secure and efficient digital asset trading and liquidity solutions for professional institutional investors and high-net-worth clients. Fly Wing Technologies Pte. Ltd. is BIT’s wholly owned Singapore subsidiary, focused on OTC trading business, serving global institutional and high-net-worth clients, and covering high-net-worth individuals in both the crypto and traditional finance sectors, including crypto currency miners, quantitative trading teams, and fund companies. The company has already officially obtained approval for a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS).

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