# Bitfinex subsidiary Ethfinex Trustless launches blockchain-enabled OTC trading By Charissa Echavez Canonical URL: https://www.tokenpost.com/news/technology/2099 Published: 2019-06-05T03:29:17.000Z Updated: 2019-06-05T03:29:17.000Z Section: Technology > Bitfinex-owned cryptocurrency exchange subsidiary Ethfinex Trustless has launched its new on-chain decentralized over-the-counter (OTC) trading feature. Bitfinex-owned cryptocurrency exchange subsidiary Ethfinex Trustless has launched its new on-chain decentralized over-the-counter (OTC) trading feature. The [new service](), which aims to offer more flexibility when trading cryptocurrencies, has no centralized order book or matching engine. Instead, it generates a unique “taker” URL that can be shared. We’re proud to unveil an important development in our decentralised offering - [@ethfinex]() Trustless OTC, a blockchain enforced Over-the-Counter service. Get started today [https://t.co/iIFtnzdg5a]() [pic.twitter.com/pKSFeHaiuP]() — Bitfinex (@bitfinex) [June 3, 2019]() “In a nutshell, Ethfinex Trustless OTC is a blockchain enforced OTC service, removing the need for placing trust in escrow or counterparties,” its [blog]() stated. No minimum or maximum order size is required to use the new service. In addition, users can swap any ERC-20 compliant tokens, including those that are not currently listed on Ethfinex, for a fee of only 0.02%, 250x lower than most escrows charging between 2% and 5%. In addition, Ethfinex Trustless OTC also addresses the issue of trust by using a non-custodial smart contract that requires both parties to fulfill their obligations or lock their full collateral in before the trade is settled. The [rollout]() came just after Bitfinex and its affiliated stablecoin issuer Tether have been granted a stay of document demands after both parties filed a motion to dismiss the proceeding of the New York Attorney General’s (NYAG) office last month. The NYAG office alleged that [Bitfinex]() lost $850 million and consequently used the funds from Tether to cover the lost. ## Links in this article - [new service](https://support.ethfinex.com/hc/en-us/articles/360028743972-Learn-how-OTC-trading-works) - [@ethfinex](https://twitter.com/ethfinex?ref_src=twsrc%5Etfw) - [https://t.co/iIFtnzdg5a](https://t.co/iIFtnzdg5a) - [pic.twitter.com/pKSFeHaiuP](https://t.co/pKSFeHaiuP) - [June 3, 2019](https://twitter.com/bitfinex/status/1135495804385447936?ref_src=twsrc%5Etfw) - [blog](https://blog.ethfinex.com/introducing-trustless-otc-no-more-escrow/) - [rollout](https://tokenpost.com/Crypto-exchange-Bitfinex-Tether-claim-another-legal-victory-obtain-stay-of-demands-from-court-1956) - [Bitfinex](https://tokenpost.com/Cryptocurrency-exchange-Bitfinex-granted-motion-to-modify-injunction-1899)