What is the minimum trade size on Penning OTC?

The minimum order size is €100,000 (or DKK equivalent) per trade. Below this threshold, the broker desk and the spot Native Swap product are usually a better fit.

What does OTC trading cost?

Penning OTC charges a 2% base fee on the trade notional plus a 0.3% bank fee covering SEPA / Danish bank-rail settlement. Fees are quoted up front and reflected in the all-in price you confirm.

Which currencies and assets do you settle in?

We settle in Euro (EUR via SEPA) and Danish krone (DKK). On the crypto leg we support 190+ tokens across 30+ networks; if you need an asset we don't list, we can usually source it under a custom mandate.

How long does an OTC trade take to settle?

Settlement typically completes the same business day for fiat-funded trades. The exact timing depends on bank cut-offs; your broker confirms the expected window when you accept the price.

Is Penning OTC regulated?

Yes. Penning is registered as a Crypto-Asset Service Provider (CASP) with Finanstilsynet, the Danish Financial Supervisory Authority, and operates under the EU's Markets in Crypto-Assets (MiCA) regulation. All client crypto is held in segregated wallets.

How do I get a quote?

Complete onboarding (KYC and corporate KYB if applicable), then contact your broker or our OTC desk with the asset and size you need. We return a firm all-in quote you can accept or pass on; nothing executes until you confirm.

Denmark based CASP4.8/5

Hassle free OTC trades, with market leading prices, and execution

Penning's OTC desk offers a single point of entry for all your OTC trading needs. We offer the widest selection of crypto assets for OTC orders, of course including Bitcoin (BTC), Ethereum (ETH), and stablecoins.

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What is OTC

What is crypto OTC trading?

Crypto OTC (over-the-counter) trading is a way to execute large block trades directly with a regulated counterparty instead of routing them through a public exchange order book. This avoids slippage, reduces market impact, and gives you a confirmed all-in price before you commit. Penning's OTC desk is operated by Penning Financial Services ApS, a CASP-licensed entity supervised by Finanstilsynet under the EU's MiCA regulation, with a €100,000 minimum trade size and bespoke pricing per order.

Last reviewed 2026-05-01

Trade

World class OTC, with market's best order execution

Scalability

Execute any order sizes, compliant & efficient.

Liquidity

Access to largest liquidity pools in the market.

Flexibility

Easy access, with multiple fiat currencies.

Benefits

Access deep liquidity for spot and derivatives trades over €100,000
Discreet, secure trading solutions
Competitive execution and settlement options

Trading terms

Private, personalized services for large crypto trades

€100,000

Min order

Base fee

0.3%

Bank fee

Contact broker desk

Assets flow and custody

We settle via segregated client bank accounts and MPC wallets.

Assets are held in segregated MPC wallets. If a trade is cancelled, funds/coins are returned to the originating account/address.

Confirm quote

Accept the RFQ; we issue a trade ticket and your unique settlement reference.

Send fiat

Wire EUR via SEPA (T+0) or USD via SWIFT (T+1) to your segregated client account. Use the provided reference.

Execution

Once funds land (or PoP is approved), our desk executes your block across multiple venues at the agreed spread.

Delivery

Tell us where to deliver: exchange, institutional custody, or your self-custody address. We transfer from our vault and share the tx hash.

Proof & reporting

Receive a PDF trade receipt, settlement confirmation, and exportable statements for reconciliation.

Get your receipt

After every OTC trade you get an audit-ready Receipt & Reporting Pack: a PDF trade ticket with full execution details, bank proof-of-payment linked to your settlement reference, and a downloadable monthly P&L statement for accounting.

Need a firm price on a block trade?

Talk to our OTC desk. Minimum €100,000, named broker, segregated custody, MiCA-regulated.