Ethereum
$200.77 -13.48%
ETH · 16w

Bain-Backed Crypto Exchange Seed CX Is Expanding to Asia - CoinDesk

Chicago-based cryptocurrency exchange Seed CX, which Bain Capital backed last year, is expanding to Asia.

The institution-focused exchange announced Thursday that it has teamed up with Singapore-based trading infrastructure technology provider Hydra X for the effort. The partnership will allow Seed CX to integrate its platform with Hydra X’s trading platform Sigma, which is currently in beta.

Once the integration is complete, Seed CX users will be able to view prices, trade and monitor their portfolios on the Sigma platform, as well as have access to a fiat-cryptocurrency gateway, according to Seed CX.

“This partnership will also be useful in expanding our user base to include institutional traders seeking regulated and secure access to the world of digital assets,” said Hydra X CEO Daryl Low.

Seed CX also said that it plans to offer a market for the Commodity Futures Trading Commission (CFTC)-regulated crypto derivatives through its subsidiary Seed SEF.

Last September, Seed CX raised $15 million in a Series B funding round led by Bain Capital Ventures. The investment brought the company’s total funding to date to $25 million at the time.

The firm launched a regulated bitcoin spot trading market in January, saying it offered “a deep book of liquidity.” “We’re offering truly institutional level support,” Seed CX co-founder and CEO Edward Woodford said at the time.

Another subsidiary of the exchange, Zero Hash, a FinCEN-regulated entity in the U.S., launched a wallet solution for institutions last January, aimed at adding security and transparency for its customers.

Seed CX notably has a policy in place that bars employees from trading in cryptocurrency to avoid conflict of interest.

Singapore image via Shutterstock 

Go to coindesk.com
Recent news
ETH -13.48% · youtu.be · 6h

I'm sorry everyone. It was my fault.

He bought? Donate: BTC: 17pq2BcAVbaeXQgpZJ9Brw7qGW5YGGQUT9 ETH/ERC-20: 0x7175CE963017307f6e57cE89CDb29a761E25aBFF XMR: 83vDTyehsLQZHGcpr8mSs3dJBV5Xo7Ht919VHz...
21
ETH -13.48% · twitter.com · 7h

Does ETH development need more organization?

Mark my words...this is the single biggest threat to #Ethereum 2. If Phase 0 is late, this is the reason for the failure. It keeps me awake at night and I have tried everything I can think of to fix t...
ETH -13.48% · thedefiant.substack.com · 12h

He Moved to Berlin, Found Love, and Built an Ethereum Dapp

Good morning defiers, wishing you a great start to your week. Today’s interview is somewhat of an inspirational story. When Nate Geier decided he wanted to focus on cryptocurrencies full time, he quit...