Denmark based CASP4.8/5Block trades from €100,000, executed by a named Danish desk
MiCA CASP licensed (FTID 10902)Non-custodial — your own walletBest-execution under MiCAOperating since 2019
Bespoke pricing through our broker network, confidential settlement, and non-custodial delivery to your own wallet — with an audit-ready receipt on every trade.
The desk at a glance
- Minimum order
- €100,000
- Fee
- 2% flat — negotiated 1:1 at size
- Settlement
- EUR & DKK, typically same business day
- Delivery
- Direct to your own wallet
- Your contact
- One named broker, quote to receipt
CASP-licensed · supervised by Finanstilsynet · FTID 10902
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
Who it's for
Who trades OTC with Penning?
From a single large exit to an ongoing corporate mandate — the desk handles the trades that are too big for a public order book.
KYB onboarding
Companies & treasuries
Move corporate treasury between EUR/DKK and crypto against your company bank account — with the trade ticket, bank proof and statements your accountant and auditor expect.
From €100,000
High-net-worth individuals
Enter or exit a large position at one confirmed all-in price, without moving the market or broadcasting the trade to it.
Best-execution under MiCA
Funds & family offices
A regulated, named counterparty for block execution: best-execution under MiCA, exportable statements, and settlement your administrator can reconcile.
EUR & DKK off-ramp
Crypto-native businesses
Off-ramp revenue or treasury to EUR or DKK through a regulated Danish counterparty, with fiat handled by regulated Danish banking partners during settlement.
OTC vs. exchange
Why size trades happen off the order book
What matters
Public exchange order book
Penning OTC desk
Price
Public exchange order book
Your order walks the book as it fills — the price moves against you (slippage).
Penning OTC desk
One firm all-in price, confirmed before you commit.
Market impact
Public exchange order book
A large order is visible and can move the market before it completes.
Penning OTC desk
Liquidity sourced off-book — your order never appears on a public order book.
Confidentiality
Public exchange order book
Order flow and trade history are public by design.
Penning OTC desk
Bilateral and confidential — handled by the desk, settled privately.
Settlement
Public exchange order book
Assets sit on the exchange until you withdraw them yourself.
Penning OTC desk
Fiat via regulated Danish banking partners; crypto delivered to the wallet you nominate.
Support
Public exchange order book
Ticket queues, no dedicated contact.
Penning OTC desk
A named broker on the phone — before, during and after the trade.
Under €100,000? The same regulated setup at retail size lives on our Broker Desk. Visit the Broker Desk
Trade
Built for size: deep liquidity, clean execution, confidential settlement
Trading terms
Private, personalized services for large crypto trades
€100,000
Min order2%
Flat fee1:1
Negotiated pricingEUR + DKK
Settlement currencies
Asset flow and settlement
Your fiat with regulated Danish banking partners. Your crypto delivered to your own wallet.
Penning is a brokerage, not a custodian — we don't hold your crypto. During settlement your EUR or DKK is held with regulated Danish banking partners; the assets we source are delivered directly to the wallet you nominate, and never held afterwards. If a trade is cancelled, funds are returned to the originating account.
01
Confirm quote
Accept the RFQ; we issue a trade ticket and your unique settlement reference.
02
Send fiat
Wire EUR via SEPA (T+0) or USD via SWIFT (T+1) to your dedicated client settlement account. Use the provided reference.
03
Execution
Once funds land (or PoP is approved), our desk executes your block across multiple venues at the agreed spread.
04
Delivery
Tell us where to deliver: exchange, institutional custody, or your self-custody address. We deliver to your nominated address and share the tx hash.
05
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.
What clients are saying
Testimonials
Excellent support and an easy-to-use platform! The phone is always answered quickly, or they call back shortly after if you have any questions. Just a few hours from fiat in your traditional bank to crypto in your own wallet.
Ulrik Bruhn
October 21, 2025
Our packages
Contact Jimmie Steinbeck
Explore the possibilities with Penning's Broker Desk. Contact us to learn more about how we can help you buy and sell digital assets safely and efficiently.
Jimmie Steinbeck
Head of Broker Desk
Request a quote
Get a firm price on your block trade
Tell the desk what you want to move. A named broker comes back with a firm all-in quote — you accept or pass, and nothing executes until you confirm.
- No commitment — a quote is free, and you can simply pass
- Confidential — your request goes to the desk, not a queue
- New client? Your broker walks you through onboarding (KYC/KYB) before the first trade
Penning Financial Services ApS is a CASP supervised by Finanstilsynet, the Danish Financial Supervisory Authority. Verify FTID 10902 in the public register
We only use these details to answer your request. Privacy policy
Frequently asked questions
FAQ
OTC (over-the-counter) crypto trading is the execution of large block trades directly with a regulated counterparty instead of through a public exchange order book. You receive a single all-in price for the full size, avoid slippage and market impact, and settle bilaterally.
Need a firm price on a block trade?
Talk to our OTC desk. Minimum €100,000, named broker, direct delivery, MiCA-regulated.