The crypto trading platform Seed CX based in Chicago rolls out spot trading of bitcon to US dollar pair for institutional investors with the derivatives regulated by US CFTC to be launched in the long run.
"The Seed CX team is excited to announce its successful launch of spot trading for digital assets - we are the first US digital asset exchange built exclusively for the needs of institutions," the company revealed on Twitter.
According to the company press release, Seed CX will offer "a licensed exchange for institutional trading and settlement of spot digital asset products". Seed CX is actively attracting traders and large investors, which allegedly emphasize advantages of the platform in terms of legal compliance, quality of service, and trading mechanisms for institutional traders.
The listing will be expanded with Ethereum, Litecoin and Bitcoin Cash to dollar pairs later this month. At the same time, the euro and the Japanese yen are said to be added in mid-Q1 2019.
Seed CX allows customers to carry out their trade operations via the FIX-protocol, graphical user interface (GUI), and web API. In addition, the exchange offers marginal instruments. The user dollar deposits are kept in the US banks with insurance guarantees from the Federal Deposit Insurance Corporation (FDIC).
Along with the exchange service, Seed CX also runs its own custody service for digital assets. Notably, there are zero fees on the platform for both fiat/crypto deposits and withdrawals.