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Cryptocurrency exchange Seed CX has announced that it has opened bitcoin spot trading on its platform, targeting institutional investors.
Based in Chicago, Seed CX is backed by Bain Capital, OKCoin USA, Dekrypt Capital and others. Through its subsidiaries, it offers a market for institutional trading and settlement of spot digital assets which addresses the concerns of institutional investors such as regulatory oversight, technical reliability and conflicts of interest.
Earlier this month, Seed CX unveiled a new digital asset wallet solution, which has also been developed keeping in mind the needs of institutional clients. It started onboarding trading firms late last year.
In its official release, Seed CX said that it has developed “a deep book of liquidity” providing for best execution and minimal slippage.
“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,” said Edward Woodford, co-founder and CEO of Seed CX. “We are getting very positive feedback from recently onboarded customers, and we are quickly onboarding more investors and trading firms from around the world.”
The exchange will open trading on ETH/USD, LTC/USD and BCH/USD pairs later this month. Seed CX also plans to offer a market for CFTC-regulated digital asset derivatives.
“In February we’re going to be offering more trading pairs, so we’re going to be offering up euros and Japanese yen,” Woodford told CoinDesk.
