Cryptocurrency exchange Seed CX is cutting its trading fees to one of the lowest levels in the industry in an attempt to gain additional market share.
Institution-oriented cryptocurrency exchange Seed CX has cut its trading fees to what it claims to be the most competitive levels globally.
Competition heats up in crypto trading space
On Sept 16, the Chicago-based crypto exchange Seed CX announced that it was lowering its trading fees to some of the lowest levels in the industry. The fee cuts follow a week of purported record trading volumes for the exchange, briefly overtaking other top exchanges like Bittrex and the Winklevoss brothers’ Gemini.
Seed CX co-founder and CEO Edward Woodford said that thanks to its aggressive fee schedule and low slippage books, they can “look forward to continuing to lead institutional digital asset trading with best execution, operational support and technology.”
Importance of institutional investors to drive crypto adoption
In February, Seed CX, the only digital asset exchange built exclusively for institutional investors, announced that its trade execution costs on the Seed Digital Commodities Market, a subsidiary of Seed CX, were among the lowest of all digital asset execution venues globally.
Woodford previously stressed the importance of institutional investors and professional traders in the further adoption of digital assets. Woodford noted that Seed CX was poised to bring “large institutional traders, who have so far sat on the sidelines, into the crypto space,” some “for the first time."
Seed CX subsidiary Zero Hash adds support for derivatives
Cointelegraph reported on Sept. 11, that Zero Hash, a calculation and settlement agent and subsidiary of cryptocurrency platform Seed CX, has added support for derivatives. The newly released service provides collateral management for derivatives, including options such as “the calculation of variation margin, initial margin and final settlement values [...] the sending of margin-call notifications.”