Do OTC Crypto Derivatives Typically Use a Clearing House?

No, OTC crypto derivatives, by their nature, are bilateral agreements between two parties and do not involve a central clearing house. They rely on the creditworthiness of the counterparties and may use collateral or a Credit Support Annex (CSA) to mitigate risk.

Some centralized crypto exchanges offer "exchange-cleared" OTC, but this is a hybrid model.