Seed CX, a leading institutional digital asset exchange, has launched an offering of licensed exchange services for institutional trading and settlement of spot digital asset products. The firm is targeting Institutional investors who have held back from trading digital assets due to concerns about regulatory oversight, technical reliability, and conflicts of interest.
Seed CX has developed a deep book of liquidity capable of providing best execution and minimal slippage for market participants. The firm, who began onboarding trading firms late last year, plans to offer a market for CFTC-regulated digital asset derivatives.
Edward Woodford, co-founder and CEO of Seed CX, said: “There is no shortage of digital asset spot trading markets, but none have our vision for creating an institutional-grade experience across technology, operations and compliance. We are getting very positive feedback from recently onboarded customers, and we are quickly onboarding more investors and trading firms from around the world.”
Evgeny Gaevoy, CEO of London-based cryptocurrency trading firm Wintermute Trading, commented: “We are excited about our early experiences with Seed CX and expect to be migrating more of our business to them, particularly as they bring on new pairs and regulated derivatives. What we see in Seed CX is an exchange that actually reflects how we think the markets should be: reliable, compliant, obsessed with client service, and focused on the sophisticated needs of institutional investors first and foremost.”
Earlier this month, Seed CX launched a new digital asset wallet solution featuring on-chain settlement in response to growing interest and participation of institutional investors. The crypto wallet allows Zero Hash, a calculation and settlement agent for digital assets. to synchronize its internal accounting layer with the blockchain, with deliveries and settlements being posted to the public network for immutable record-keeping,
The company successfully raised $15 million from Bain Capital Investors in September 2018. The funding will be used to expand Seed CX’s physical trading infrastructure, broaden its network of institutional trading groups, and more than double its team to close to 40 people.