Competitive Trading Fees: A Game Changer
On September 16, Seed CX, the Chicago-based cryptocurrency exchange, made waves by dramatically reducing its trading fees. Claiming to offer some of the most competitive rates in the global marketplace, this strategic move follows a surge in trading volumes, even managing to outpace notable exchanges like Bittrex and Gemini, the latter of which is run by the Winklevoss twins. Sounds like the crypto party is heating up!
Words from the Top
In an exclusive interview, co-founder and CEO Edward Woodford emphasized the exchange’s commitment to providing unrivaled service. He confidently stated, “Thanks to our aggressive fee schedule and low slippage books, we intend to continue leading institutional digital asset trading with the best execution, operational support, and technology.” So, if you’re an institution sitting on the fence about diving into crypto, maybe it’s time to take the plunge.
The Institutional Influence on Crypto Adoption
Seed CX proudly claims to be the only digital asset exchange built solely for institutional investors. Back in February, they pointed out that their trade execution costs on their subsidiary, the Seed Digital Commodities Market, offer some of the lowest fees globally. Woodford has made it clear that institutional players hold the key to wider crypto adoption. With their eyes set on bringing major institutional traders—until now merely spectators—to the crypto game, we might just see a new era of participation.
Zero Hash: The Derivatives Dream Team
That’s not all folks! Seed CX’s subsidiary, Zero Hash, recently added support for derivatives. As reported on September 11, this new offering provides a comprehensive collateral management system for derivatives, which includes options like the calculation of variation margin, initial margin, and final settlement values. Additionally, they now manage margin-call notifications. In other words, they’re making it easier for institutions to play around in the derivatives playground.
What’s Next for Seed CX?
With competitive fees and an eagerness to welcome institutional traders, the future looks bright for Seed CX. As the crypto landscape evolves, the focus on meeting the needs of institutional investors may just reshape how the industry operates. So, will Seed CX become the go-to exchange for serious traders? Only time will tell, but one thing’s for sure—everyone will be watching!
