Chicago-based cryptocurrency exchange Seed CX now offers institutional investors the option of spot trading on its platform.
According to a press release on 23 January, Seed CX says it can offer a fully-licensed and regulated platform for institutional investors to both trade and settle spot digital asset products, with future plans to launch a market for Commodity Futures Trading Commission (CFTC)-regulated digital asset derivatives.
Spot trading refers to the process of buying or selling currencies, commodities, financial instruments, or in this case, digital currencies, with immediate delivery of the asset required.
The current pairs now made available on Seed CX for spot trading include Bitcoin(BTC)/USD; Ethereum (ETH)/USD; Litecoin (LTC)/USD. A further Bitcoin Cash (BCH)/USD pair is scheduled for later this month.
With many pundits considering institutional investors as the latest big players entering the cryptocurrency market and potentially the trigger for the next Bitcoin bull run, exchanges and service providers are scrambling to be the first to offer institutional grade solutions to capture the new spot in the market.
Seed CX claims it can offer ”dedicated institutional coverage” alongside insured custody for fiat assets, in addition to a zero fee model for depositing and withdrawing fiat.
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