Cryptocurrency-related service providers remain of great interest to financial companies. Seed CX, an institutional cryptocurrency trading platform, has secured $15m in Series B funding. The round is led by Bain Capital Ventures, and brings the company’s total funding to just over $25m.
Bridging the gap between cryptocurrency and institutional investors is never easy. Numerous companies attempt this model, albeit with varying degrees of success. Seed CX Aims to do a far better job in this regard. So far, the company is attracting a lot of attention and seed funding alike. A new round of fundraising brought in an additional $15m for the company to work with.
Another Round of Funding for Seed CX
This new funding round will help pay for the company’s physical expansion. More specifically, Seed CX will expand its physical trading infrastructure, improve upon its network of trading groups, and hire up to 20 additional staffers. All of these developments are very positive for a company exploring opportunities in the cryptocurrency industry.
Seed CX CEO and co-founder Edward Woodford adds:
“The growth of digital assets as an asset class will be based on the adoption of institutional investors and professional traders, who require a trading experience that is on par with that of other instruments, such as equities and commodities. As a licensed exchange for both spot and derivatives trading, we deliver the operational risk safeguards, strong institutional technology, operational support, and regulatory compliance that institutions demand. What is particularly exciting is that our unique offering brings large institutional traders, who have so far sat on the sidelines, into the crypto space for the first time.”
Whether or not the company can make an impact, is difficult to determine. Institutional players show an increasing demand for Bitcoin and other cryptocurrencies. Any service provider focusing on this industry can be quite successful in the long run. For now, Seed CX still has everything to prove in this regard, but the company appears to be on the right track.