What is Prefunded Settle Later?
Available via the OTC desk, Prefunded Settle Later is a settlement option that lets you lock in better quotes for large orders and access more trading pairs compared to immediate settlement. After creating a dedicated Prefunded Settle Later account, you can allocate the funds for post-trade settlement.
Prefunded Settle Later is currently available to Institutional clients and VIP users, subject to jurisdiction limitations. Please contact [email protected] for more details.
How do I set up a Prefunded Settle Later account?
Follow these steps to set up your Prefunded Settle Later account:
From the dashboard, click your accounts dropdown
Click Explore Prefunded Settle Later
Review the displayed information and click the Create button
Click the Transfer funds button
Select the account you want to transfer funds from, as well as the coin and amount. Confirm the transfer when you’re ready.
After setup, simply request a quote and confirm the trade from your Prefunded Settle Later account.
When is the settlement time?
The standard settlement time is 10:00 UTC daily*, excluding Saturdays, Sundays, and holidays:
Trades before 08:00 UTC are settled at 10:00 UTC on the same day
Trades after 08:00 UTC are settled at 10:00 UTC on the next business day
Holidays refer to recognized public holidays based on your country of incorporation for institutional clients, and the country linked to your phone number for VIP users
Early settlement requests can be directed to [email protected]. Please note that request approval is not guaranteed.
How is Prefunded Settle Later different from Settle Later with Net Settlement?
Prefunded Settle Later is more accessible than Settle Later with Net Settlement because it does not require financial due diligence. It is available to all users who can access OTC trading.
What trading pairs are available?
Please see below for the list of available trading pairs:
Trading pairs available to U.S. users
Trading pairs available to non-U.S. users
*Certain digital assets may, from time to time, be subject to limited market availability, or other conditions that may affect our ability to source the requested token quantity within standard settlement timeframes. Where we determine that such conditions exist in respect of a trade you have requested, we shall notify you of the anticipated delay and may mutually agree a timeline for settlement of such trade (the "Pre-Funded Settle Later Period").
During the Pre-Funded Settle Later Period, you shall deposit cleared funds into your designated Pre-Funded Settle Later account in an amount equal to or exceeding the full anticipated value of the proposed transaction in a currency denomination determined by Crypto.com (the "Pre-Funded Amount"). The Pre-Funded Amount shall be held in your Account throughout the Pre-Funded Settle Later Period and shall be applied towards settlement of the relevant trade upon completion.
You acknowledge and agree that during any Pre-Funded Settle Later Period, the market price of the relevant digital asset may fluctuate. We shall not be liable for any loss, cost, or expense arising from such price movements, and the trade shall be settled at the price agreed at the time of the original trade instruction, unless otherwise agreed in writing.