Flow Traders, a leading global market maker in exchange-traded products (ETPs), announced on Tuesday the launch of a 24/7 over-the-counter (OTC) liquidity service for tokenized real-world assets (RWAs). This move brings the firm's decades of traditional finance (TradFi) expertise to the digital asset space, providing institutional clients with the ability to trade and manage risk around the clock using blockchain-based versions of popular traditional assets.
The new service, delivered through Flow Traders' Digital Asset OTC platform, offers proprietary, two-way pricing for tokenized money-market funds, equities, and commodities. Specifically mentioned assets include Franklin Templeton's on-chain money market fund token, BENJI, and Tether Gold (XAUT). The platform will constantly quote prices, ready to buy or sell these tokenized assets outside regular traditional market hours, addressing a critical pain point for institutions that need to adjust positions during weekends or overnight sessions.
"At Flow Traders, we have operated at the intersection of traditional and digital markets for many years, and we are pleased to launch 24/7 OTC liquidity for regulated tokenized equities and commodities for permissioned counterparties through our digital asset OTC platform," said Thomas Spitz, CEO of Flow Traders.
The demand stems from institutions seeking to manage exposure outside traditional market hours, a need highlighted by recent geopolitical tensions, such as those between Iran and Israel, which flared over weekends when traditional trading desks were closed. "The demand mainly comes from institutions that want the ability to manage exposure outside traditional market hours," explained Marc Jansen, co-chief trading officer at Flow Traders. He added that the OTC service supports price discovery and is crucial for larger trades where public venue liquidity is still developing.
The tokenization market is experiencing rapid growth. The tokenized gold and silver market alone is nearing $6 billion in value, roughly four times its size at the end of 2024. Paolo Ardoino, CEO of Tether, stated, "Liquidity providers such as Flow Traders play a critical role in ensuring that tokenized assets like XAUT can trade efficiently across venues and reach a broader set of market participants." The broader asset tokenization market is reportedly worth $3 trillion this year, growing at a CAGR of 44.25%, with projections suggesting it could exceed $18 trillion by 2031.
Flow Traders leverages its 20 years of experience in market-making and liquidity provisioning for global ETPs, ranking among the top three global market makers by ETP trading volume in 2025. Jansen noted that their extensive ETF market experience, including pricing models built for when primary markets are closed, can be extended to tokenized markets. The service is available immediately to permissioned counterparties via direct FIX connectivity and other standard trading interfaces, with transactions settleable in fiat currencies or major stablecoins like USDC and USDT.
The OTC service will evolve based on institutional demand, regulatory developments, and integration with supported trading venues. Product offerings will vary by jurisdiction and client eligibility, with different members of the Flow Traders group providing access based on their regulatory statuses.
