Avelacom, a trading IT infrastructure company, has entered a pact to use the order routing products and real-time market data of Seed CX. As per the terms of the deal, Avelacom would use the products of Seed CX for its valued clients.
Services of a licensed exchange
Seed CX offers licensed exchange services for institutional trading. It also offers services for the spot settlement of digital asset products. The company aims to provide digital asset derivatives for Commodity Futures Trading Commission.
Aleksey Larichev, Managing Director of Avelacom, said the association with Seed CX allows crypto traders faster access to the market data in real time. The existing platforms, sluggish matching engines, and low uptime are not ideal for jitter sensitive applications.
Seed CX partners with Hydra X
Seed CX has recently signed a deal with Hydra X, a fintech company based in Singapore. Under the deal, the company offers trading services in Asia. It is joined a list of firms that provide digital asset trading venues on Hydra X’s Sigma trading platform. The deal allows institutional users of Sigma to access fiat Crypto gateway of Seed CX.
Following the completion of the integration, the users of Seed CX can view the monitor the trades, view prices, and trade on the Sigma platform, which is in beta at this stage. Daryl Low, Chief Executive Officer of Hydra X, said the alliance allows including institutional traders in the user base. They will have access to secure and regulated digital assets worldwide. Seed CX mobilized funds of $15 million in September 2018 in a series B funding. In January 2019, the company introduced bitcoin spot trading.
Digital asset wallet solution
Seed CX has introduced a digital asset wallet solution along with an on-chain settlement feature. The company developed the product together with Zero Hash, its settlement subsidiary. According to Seed CX, the spreading of digital asset holdings in multiple wallets reduces the risk posed by hackers.
According to Diar, a
cryptocurrency research company, institutional traders accounted for a higher
volume of the trade of bitcoin on BTC derivatives exchange. The trading of
bitcoin derivatives on BitMEX and Chicago Mercantile Exchange records all-time
high for the successive two months.