Fly Wing Technologies
Fly Wing Technologies is a Singapore-incorporated, MAS-licensed OTC digital asset trading platform that acts as a principal counterparty for institutional clients, crypto miners, proprietary trading firms, investment firms, and HNWIs trading 20+ cryptocurrencies via zero-fee, no-pre-funding principal-to-principal execution.
- Company typePrivate
- Founded2017
- HeadquartersSingapore, Singapore
- Headcount—
- GTM typeB2B
- OfferingServices
What Fly Wing Technologies does
Fly Wing Technologies Pte. Ltd. is a Singapore-headquartered, MAS-licensed digital asset OTC trading platform and wholly owned subsidiary of BIT, an Asia-focused digital assets financial services platform. Founded in 2017, the company operates a principal-to-principal OTC trading business supporting 20+ cryptocurrencies (BTC, ETH, LTC, BCH, XRP, USDT, USDC, DAI, DOGE, FIL, DOT, SHIB, CRV, SOL, SUSHI, AVAX, LINK, UNI, TRX, XAUm, ETC). The platform is positioned as an institutional OTC desk with a second support hub in Hong Kong (GMT+8 operating hours). Underlying capabilities include SSL-encrypted communications, mandatory two-factor authentication, periodic security reviews, and a MAS Notice PSN02-compliant Travel Rule system that interoperates with a network of 25+ VASP partners (including DBS Bank, Crypto.com, OKX, Anchorage, Hashkey, Bitstamp, Cumberland, and QCP Capital) for sender/recipient PII transmission and wallet ownership verification (Satoshi Test or Account Statement).
The business model is principal-to-principal: Fly Wing acts as counterparty to client trades and earns revenue through the bid-ask spread rather than explicit transaction, deposit, or withdrawal fees. Clients execute without pre-funding, which improves capital efficiency and reduces counterparty risk, and trade sizes range from small tickets to multi-million dollar blocks with no enforced minimum. Supporting products include a Travel Rule compliance service, a Token Admission due diligence process for new digital payment tokens, and a Complaints Handling service (acknowledgement within 2 business days, written response within 15 business days).
Go-to-market is consultative and relationship-driven via a dedicated institutional coverage team, with the website (Trade With Us / Get In Touch CTAs) serving as the primary inbound channel. Target segments are crypto miners converting mined assets, proprietary trading firms executing blocks, investment firms trading digital assets at scale, and high-net-worth individuals from both crypto and traditional finance backgrounds. Geographic scope is Asia-centric, with explicit restrictions on US persons and OFAC-sanctioned jurisdictions. The team's competitive pitch leans on zero fees, no-pre-funding execution, flexible sizing, and institutional expertise drawn from leading international investment banks, while the MAS DPT license provides the principal regulatory anchor.
Fly Wing Technologies firmographics
Firmographics- Name
- Fly Wing Technologies
- Legal name
- Fly Wing Technologies Pte. Ltd.
- Website
- https://flywing.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Short description
- Fly Wing Technologies is a Singapore-incorporated, MAS-licensed OTC digital asset trading platform that acts as a principal counterparty for institutional clients, crypto miners, proprietary trading firms, investment firms, and HNWIs trading 20+ cryptocurrencies via zero-fee, no-pre-funding principal-to-principal execution.
- Ownership category
- akta.pro rank
Fly Wing Technologies industry classification
Industry- Product category
- Digital Asset OTC Trading
- NAICS
- Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- OTC Spot Trading & Block Execution (FSADAJAB)
- akta.pro secondary industry
- Prime Brokerage (Multi-Asset Crypto) (FSADAJAA)
Keywords
Where Fly Wing Technologies is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices2 records
Markets served
Fly Wing Technologies business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- OTC Trading Spread: Principal-to-principal OTC trading business where Fly Wing acts as counterparty to client trades. Revenue generated through the spread between buy and sell prices rather than explicit transaction fees. No per-transaction fees, deposit or withdrawal fees charged to clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | No minimum trade sizes - clients can trade in sizes that suit them |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Fly Wing Technologies product offering
Product offeringCore offering
Fly Wing Technologies operates a principal-to-principal over-the-counter (OTC) digital asset trading platform enabling institutional clients to execute cryptocurrency trades without pre-funding accounts. The company supports 20+ cryptocurrencies including BTC, ETH, LTC, USDT, USDC and others, with trade sizes ranging from small to multi-million dollar transactions. Revenue is generated through spreads rather than explicit fees, with no per-transaction, deposit, or withdrawal fees charged to clients.
Product overview
Fly Wing Technologies operates a single unified OTC digital asset trading platform called FLY WING, which provides principal-to-principal over-the-counter trading services for digital payment tokens. The platform is built around core OTC trading with supporting compliance services including Travel Rule-compliant transfers, a token admission process for evaluating which digital assets to support, and a complaints handling mechanism. The company is a wholly owned subsidiary of BIT (Asia's fastest growing digital assets financial services platform) and is licensed by the Monetary Authority of Singapore to provide DPT services.
Differentiator
Problem solved
Functional benefit
Products and services
- OTC Digital Payment Token Trading Services Principal-to-principal over-the-counter trading platform enabling institutional clients, crypto miners, proprietary trading firms, investment firms, and high-net-worth individuals to trade 20+ digital payment tokens (cryptocurrencies) without pre-funding accounts. Supports trade sizes ranging from small trades to multi-million dollar transactions with zero per-transaction, deposit, and withdrawal fees, generating revenue through bid-ask spreads.
Quantifiable outcome
- Traded billions in cryptocurrency since 2017
- +1 more outcomes
Companies that use Fly Wing Technologies
Customer profileSegments4 records
Ideal customer profiles4 records
Fly Wing Technologies technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration24 records
Feature4 records
Fly Wing Technologies partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core.
- BITcoreBIT is Asia's fastest growing digital assets financial services platform and the parent company of Fly Wing Technologies Pte. Ltd., which is a wholly owned subsidiary. Fly Wing operates as the OTC trading arm of the BIT platform, serving crypto miners, proprietary trading firms, investment firms, and HNWIs.
- Anchorage Digital Singapore Pte LtdcoreVASP interoperability partner enabling Travel Rule compliant digital asset transfers. Customers can transfer DPTs to/from Fly Wing through this VASP with compliant Travel Rule data transmission.
- Bitstamp (Singapore)coreVASP interoperability partner enabling Travel Rule compliant digital asset transfers between Bitstamp and Fly Wing platforms.
- Coinut SingaporecoreVASP interoperability partner for compliant Travel Rule digital asset transfers with Coinut Singapore exchange.
- Crypto.com (Singapore)coreVASP interoperability partner enabling Travel Rule compliant transfers with Crypto.com's Singapore operations.
- Cumberland (Singapore)coreVASP interoperability partner for compliant digital asset transfers with Cumberland Singapore.
- DBS Bank LtdcoreVASP interoperability partner enabling Travel Rule compliant transfers with DBS Bank's digital asset services.
- Hashkey Technology Services Pte LtdcoreVASP interoperability partner for compliant Travel Rule digital asset transfers with Hashkey's Singapore operations.
- OKXcoreVASP interoperability partner enabling Travel Rule compliant digital asset transfers with OKX exchange platform.
- Tokenize XchangecoreVASP interoperability partner for compliant Travel Rule digital asset transfers with Tokenize Xchange.
Scale indicators2 records
Recent moves7 records
Expansion highlights4 records
Fly Wing Technologies competitors and assessment
Company assessmentDirect peers
- Kraken OTC: Kraken's OTC desk offers institutional clients principal liquidity across major digital assets. As an exchange-affiliated OTC desk, it competes with Fly Wing for miner and institutional flow.
- Cumberland (DRW Trading): Cumberland is DRW's crypto OTC and trading arm, operating as a principal-to-principal liquidity provider for institutions, miners, and HNWIs. It is one of the largest crypto OTC desks globally and shares Fly Wing's principal trading model and institutional client focus.
- Falcon X (now Falcon Finance): Falcon X is an institutional digital asset brokerage offering OTC execution, prime brokerage, and custody coordination. It serves the same institutional and HNWI client base as Fly Wing.
- B2C2: B2C2 is a top-tier institutional crypto liquidity provider offering OTC and electronic trading services to institutions and HNWIs. Its principal liquidity model and institutional focus make it a direct competitor to Fly Wing.
- Circle Trade: Circle Trade is Circle's institutional OTC trading desk providing principal liquidity for USDC and other digital assets. Its institutional OTC focus and Asian distribution make it a relevant peer to Fly Wing.
- QCP Capital: QCP Capital is a Singapore-based institutional crypto trading firm offering OTC and derivatives liquidity. It is a direct competitor in Fly Wing's home market and is also a VASP interoperability partner.
- HashKey: HashKey is a Hong Kong and Singapore-licensed institutional digital asset platform offering OTC trading, exchange, and custody. It is a direct competitor in Fly Wing's Asian footprint and a VASP interoperability partner.
- Wintermute: Wintermute is a leading global crypto market maker and OTC liquidity provider offering principal trading across hundreds of digital assets. It directly competes with Fly Wing in OTC execution and market-making services for institutional clients.
Broad incumbents
- Galaxy Digital: Galaxy Digital is a diversified crypto financial services firm offering OTC trading, asset management, mining, and investment banking. Its OTC desk competes with Fly Wing but as part of a much broader digital assets franchise.
- Coinbase Prime: Coinbase Prime provides institutional OTC trading and prime brokerage services as part of Coinbase's broader exchange and custody franchise. It is a broader incumbent competing with Fly Wing in institutional crypto execution.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Fly Wing Technologies social profiles
Digital presenceFly Wing Technologies compliance and trust
Trust signalCompliance1 record
Fly Wing Technologies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fly Wing Technologies leadership team
Management profileNumber of profiles
Fly Wing Technologies funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fly Wing Technologies M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fly Wing Technologies
What does Fly Wing Technologies do?
Fly Wing Technologies operates a principal-to-principal over-the-counter (OTC) digital asset trading platform enabling institutional clients to execute cryptocurrency trades without pre-funding accounts. The company supports 20+ cryptocurrencies including BTC, ETH, LTC, USDT, USDC and others, with trade sizes ranging from small to multi-million dollar transactions. Revenue is generated through spreads rather than explicit fees, with no per-transaction, deposit, or withdrawal fees charged to clients.
Is Fly Wing Technologies a public or private company?
Fly Wing Technologies is a private company. It is classified as corporate owned and is currently operating.
When was Fly Wing Technologies founded?
Fly Wing Technologies was founded in 2017.
Where is Fly Wing Technologies based?
Fly Wing Technologies is headquartered in Singapore, Singapore, in the Asia region.
How does Fly Wing Technologies make money?
One revenue line is on record: OTC Trading Spread.
Who are Fly Wing Technologies's main competitors?
Direct peers on record are Kraken OTC, Cumberland (DRW Trading), Falcon X (now Falcon Finance), B2C2, Circle Trade, QCP Capital, HashKey and Wintermute. Broad incumbents are Galaxy Digital and Coinbase Prime.
Does Fly Wing Technologies have an API?
No public API is recorded for Fly Wing Technologies.
What industry is Fly Wing Technologies in?
Fly Wing Technologies's product category is Digital Asset OTC Trading. Its primary akta.pro industry code is FSADAJAB, OTC Spot Trading & Block Execution, with a secondary code of FSADAJAA, Prime Brokerage (Multi-Asset Crypto). Its NAICS code is 523210 and its SIC code is 6200.