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According to an official press release on Wednesday, Jan. 23, Chicago-based licensed cryptography company, Seed CX, has launched spot trading for institutional investors.
Cash trading is the purchase or sale of a currency, a financial instrument or a commodity for immediate delivery. Spot contracts may include physical delivery of the instrument, commodity or currency.
According to the announcement, Seed CX has introduced spot trading for the Bitcoin pair (BTC) to US dollar, while the Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) pairs will be added later. month. In addition, Seed CX plans to expand its fiat pairs to the euro and Japanese yen later in the first quarter of 2019.
In addition, the company announced that it would propose a digital badet derivatives market regulated by the US Commodity Futures Trading Commission (CFTC).
The US stock market also claims to use a no-fee model to deposit and withdraw immediate or digital badets. All dollar deposits would be held in regulated US banks protected by the Federal Deposit Insurance Corporation.
Edward Woodford, co-founder and CEO of Seed CX, says the stock market has already received a positive feedback from its customers about functionality and hopes to attract institutional investment.
Earlier this month, Seed CX launched a digital badet portfolio solution with chain settlement for institutional investors. The project was developed in collaboration with its settlement subsidiary, Zero Hash – a custodian of currencies and crypts providing chain settlement services, which would have received FinCEN's regulatory approval to function as a fundraiser in 25 countries. States.
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