Chicago based crypto exchange Seed CX has cut its trading fees.
Edward Woodford, co-founder and CEO of Seed CX said:
“With our aggressive fee schedule and low slippage books, we continue to be the leading venue globally for cost of execution in the digital asset space. Our one basis point rebate for making is designed to encourage continued tightening and depth in our books. We look forward to continuing to lead institutional digital asset trading with best execution, operational support and technology.”
The exchange officially launched in January, is a regulated institutional cryptocurrency execution and settlement ecosystem. Additionally, both spot and derivatives (pending regulatory approval), Seed CX also offers a regulated post trade settlement infrastructure as well as on/off ramp access for 20 world fiat currencies.
Rather than a multi-tiered fee structure offered by several major exchanges, where traders get lower rate if their transactions reach a certain volume, Seed CX aims to give every participant the best rate possible. Fee compression is already at an advanced stage at Seed CX, while other crypto exchanges still have room to cut, David Martin, chief investment officer at asset manager Blockforce Capital.
Seed CX operates a digital asset exchange built expressly for institutional investors. Through its subsidiaries, Seed CX offers a market for institutional trading and settlement of spot digital assets and plans to offer a separate market for CFTC-regulated derivatives.
There’s a new partnership in the digital asset space, as technology provider Itiviti has announced that it has partnered with Seed CX. The collaboration will allow traditional institutional firms that use Itiviti’s NYFIX network access to Seed CX’s digital asset exchange and settlement ecosystem.