Crypto Exchange Seed CX Expands To Asia With Hydra X Partnership

News | March 25, 2019 By:

Cryptocurrency exchange Seed CX has partnered with Singapore-based FinTech firm Hydra X to offer its services in the Asian market

Based In Chicago, Seed CX claims to be the first licensed crypto exchange to offer institutional trading and settlement for both spot market and derivatives regulated by the Commodity Futures Trading Commission (CFTC). Backed by Bain Capital Ventures, the company provides institutional investors and professional traders with the market structure and technology they need to confidently add cryptocurrencies to their portfolios and investment strategies.

Hydra X provides cutting-edge technology, including the use of distributed ledger technology (DLT), to provide mission-critical trading and settlement solutions for digital and traditional asset financial marketplaces. Its trading infrastructure technology is designed to bring uniformity, simplicity and sophistication to the markets in which it operates. Its comprehensive suite of solutions covers the entire transaction chain across multiple asset classes – from pre-trade to post-trade, exchange-traded to off-exchange transactions and portfolio management.

Under the partnership, Sigma, an advanced multi-asset and multi-venue trading platform by Hydra X which is currently open for beta, will integrate Seed CX. The integration will allow users who have accounts with Seed CX to view prices, transact and monitor their portfolios on the Sigma platform. The integration will also reportedly allow institutional Sigma users to access Seed CX’s fiat-crypto gateway.

“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,” said Daryl Low, CEO, Hydra X. “A connection with Seed CX will bring us much closer to this goal. 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 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,” said Edward Woodford, Seed CX co-founder and CEO. “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.”