Institutional Crypto Exchange Seed CX Expands to Asia Through Partnership with Hydra X
US institutional cryptocurrency exchange Seed CX to reach Asia by integrating its trading venue with Hydra X’s platform Sigma.
Chicago-based institutional digital assets exchange Seed CX announced last Thursday that it is expanding to Asia through a partnership with Singapore-based fintech company Hydra X.
As per the Seed CX’s press release, the exchange will integrate its trading venue with Hydra X’s platform Sigma, which is currently in public beta version. The collaboration will also allow Hydra X to access the fiat-crypto gateway of Seed CX.
“Our Sigma trading platform aims to create a truly integrated cross-asset and cross-venue ecosystem by offering a seamless user experience across different asset classes and trading venues. A connection with Seed CX will bring us much closer to this goal,” Hydra X CEO Daryl Low was quoted as saying. “This partnership will also be useful in expanding our user base to include institutional traders seeking regulated and secure access to the world of digital assets.”
Seed CX co-founder and CEO Edward Woodford also commented on the development:
“Seed CX aims to be the preeminent exchange for institutions that wish to trade in digital assets, and connecting to platforms like Sigma is part of that. In a short period of time, Hydra X has demonstrated real technological leadership, and we’re very excited for Hydra X customers to connect to Seed CX.”
In January, Seed CX, which started onboarding customers late last year, launched cryptocurrency spot trading for institutional investors. The development followed a $15 million Series B funding, secured back in September 2018. The investment, led by Bain Capital Ventures, was meant to support the expansion of Seed CX’s trading infrastructure, to enlarge its institutional trading network and more than double the number of its employees to around 40, chiefly in operations, market surveillance, and technology.