This documentation outlines:
The purpose and benefits of the OTC/STS desk
Key use cases (currency swaps & crypto on/off-ramping)
Supported transaction routes
How Shiga enhances liquidity and compliance in emerging markets
Key Use Cases
1. Currency Swaps
Many businesses and individuals in Africa and other emerging markets struggle with slow, expensive cross-border transactions. Traditional methods (SWIFT, Western Union) are inefficient, forcing reliance on informal "black market" FX solutions.
Shiga’s OTC Desk solves this by offering:
Seamless blockchain access – No need for crypto wallets or technical expertise.
Regulatory compliance – Transactions occur via bank accounts in your name, avoiding P2P risks.
Speed & efficiency – Transactions settle same-day, with SWIFT confirmations provided within 24 hours.
Common Swap Scenarios:
Payments: Convert local currency to USD/EUR/GBP for international suppliers.
Operational liquidity: Manage balances across different regions or consolidate revenue into a primary account.
2. Crypto On/Off-Ramping
Global crypto regulations remain uncertain, with exchanges facing bans (e.g., Nigeria) and users encountering banking restrictions.
Shiga’s solution:
Virtual accounts (USD, EUR, GBP) – Linked to digital wallets, allowing on/off-ramping without exchange reliance.
Licensed intermediaries – Where virtual accounts aren’t available, transactions route through regulated entities to minimize risk.
Benefits:
Avoid exchange-related banking issues.
Maintain tax and compliance transparency.
Seamlessly move between fiat and crypto.
Supported Transaction Routes
Shiga’s OTC desk facilitates currency swaps and crypto conversions across multiple jurisdictions:
Currency | Country | Blockchain Support? | Currency Swap | On/Off-Ramp |
BWP | Botswana | ✅ | 1st & 3rd Party | ✅ |
XAF | Cameroon, Congo, Gabon | ✅ | 1st & 3rd Party | ✅ |
CDF | Congo | ✅ | 1st & 3rd Party | ✅ |
GHS | Ghana | ✅ | 1st & 3rd Party | ✅ |
KES | Kenya | ✅ | 1st & 3rd Party | ✅ |
MWK | Malawi | ✅ | 1st & 3rd Party | ✅ |
NGN | Nigeria | ✅ | 1st & 3rd Party | ✅ |
RWF | Rwanda | ✅ | 1st & 3rd Party | ✅ |
ZAR | South Africa | ✅ | 1st & 3rd Party | ✅ |
TZS | Tanzania | ✅ | 1st & 3rd Party | ✅ |
UGX | Uganda | ✅ | 1st & 3rd Party | ✅ |
XOF | Senegal, Mali, Togo, Burkina, Benin | ✅ | 1st & 3rd Party | ✅ |
ZMW | Zambia | ✅ | 1st & 3rd Party | ✅ |
GBP | UK | ✅ | 1st Party | ✅ |
USD | USA | ✅ | 1st Party | ✅ |
EUR | Eurozone | ✅ | 1st & 3rd Party | ✅ |
INR | India | ✅ | 1st Party | ✅ |
PKR | Pakistan | ✅ | 1st Party | ✅ |
AED | UAE | ✅ | 1st & 3rd Party | ✅ |
Why Choose Shiga’s OTC/STS Desk?
✔ Compliance-first approach – Reducing regulatory risks associated with P2P and unregulated FX.
✔ Speed & reliability – Same-day settlements, avoiding traditional banking delays.
✔ Expanding global reach – Continuous addition of new currencies and jurisdictions.
✔ Institutional-grade liquidity – Deep liquidity pools for large transactions.