Institutional-focused crypto exchange Seed CX has expanded the reach of its offering through a new partnership with Omniex, which develops technology and services to make it easier for financial institutions to trade cryptocurrencies.
With this agreement, Omniex will provide its clients with access to a wide spectrum of crypto-asset assets through Seed CX’s Seed Digital Commodities Market. The two companies said in a statement that their collaboration helps provide institutional-grade resources and real-time information for those trading in cryptocurrency markets.
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Seed Digital Commodities Market was one of Seed CX’s two subsidiaries that secured a so-called BitLicense from the NY State Department of Financial Services (NYDFS), joining only 20 other companies that were granted this license, which allows to legally operate as a money transmitter and cryptocurrency exchange.
The highly-sought-after approvals authorize Seed Digital Commodities Market (SCXM) to serve as a matching engine for cryptocurrency trades, while Zero Hash’s license allows Seed CX’s settlement arm to operate as the money transmitter for the trading activity resulting from its affiliated exchange.
While interest in the virtual asset class has grown, the sector still lacks the same level of market infrastructure available to investors in other asset classes. As such, the new deal handles some of its unique market challenges, including connectivity, features, and high-performance trading experience, for institutions seeking exposure to crypto-assets.
Crypto assets and unique attributes not seen in other markets
“As the market for crypto-assets continues to mature, we’re excited to partner with providers like Seed CX that are built specifically for the institutional client base we support. We look forward to creating valuable services for our mutual clients,” said Omniex co-founder and CEO Hu Liang.
The Omniex platform provides an end-to-end solution for portfolio and risk management, trade execution, and compliance, as well as algorithmic execution and smart order routing services.
Omniex, which has offices in San Francisco and California, says the crypto assets have many unique attributes not seen in other financial markets. Thus it has built its platform to account for the nuances of these novel assets.
Beyond its portfolio and order management systems, Omniex solutions enable direct market access and connectivity to the liquidity venues for crypto-assets, including multiple exchanges and OTC desks.
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