Spot Trading: The New Kid on the Block

Chicago-based crypto exchange Seed CX has officially introduced spot trading for its institutional investors. What’s that, you ask? Well, spot trading is when you buy or sell a currency, financial instrument, or commodity for immediate delivery. It’s like going to a farmer’s market: you hand over the cash, and you walk away with the freshest veggies! In this case, the veggies are currencies, and the market is—surprise!—digital assets.

Bullish Moves: Bitcoin to USD Pairs First

As part of its new offering, Seed CX has rolled out spot trading for the Bitcoin (BTC) to U.S. dollar pairs. Just in case you were wondering, that includes all the sweaty palms and heart palpitations that come with trading Bitcoin today.

• Coming Soon: Keep your eyes peeled for Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) pairs being added later this month!

Fiat Giving You the Feels

But wait, there’s more! Seed CX is planning to expand its fiat pairs to include not just the U.S. dollar, but also the euro and Japanese yen by the end of Q1 2019. It’s like a global buffet for digital currency traders—pass the currency, please!

Zero Fees: A Dream Come True?

If zero fees sound too good to be true, you might want to settle in for a sweet surprise. Seed CX claims that it utilizes a model where there are zero fees to deposit and withdraw both fiat and digital assets. All U.S. dollar deposits are safely stored in regulated banks, covered by the Federal Deposit Insurance Corporation. Seriously, it’s like winning a lottery, but you have to be careful where to put it.

Looking to the Future: Digital Derivatives and More

To top it all off, we’ve got some exciting news: Seed CX has plans to introduce a market for digital asset derivatives, regulated by the United States Commodities and Futures Trading Commission (CFTC). It’s like the cherry on top of an already pretty sweet dessert! Edward Woodford, the co-founder and CEO, shared that the exchange has received positive feedback on its new features and is hopeful about attracting even more institutional investors.

Wallet Solutions and Partnerships

Earlier this month, Seed CX also launched a digital asset wallet solution with on-chain settlement specifically tailored for institutional investors. This innovative project was developed in collaboration with their subsidiary, Zero Hash, which is not only a crypto and fiat custodian but also approved by FinCEN to operate as a money transmitter in 25 states. A dynamic duo, indeed!