Alternative investment company Bain Capital Ventures has led a $15 million funding round for an institutional cryptocurrency exchange Seed CX.
This is according to an official pronouncement published just recently.
Seed CX is a Bain Capital Ventures backed, licensed digital asset exchange for both spot market and U.S. Commodities and Futures Trading Commission (CFTC)-regulated derivatives.
According to the announcement, Seed CX’s total funding has reached over $25 million after the latest $15 million Series B funding round. The exchange would make use of the recent investment to augment its physical trading infrastructure, develop its network of institutional trading groups, as well as generate new job opportunities to increase personnel.
Seed CX’s co-founder and CEO, Edward Woodford, emphasized the significance of institutional investors and professional traders in the adoption of digital assets. Woodford also stressed that the exchange is set to bring “large institutional traders, who have been sitting on the sidelines, into the crypto space,” some “for the first time.”
Salil Deshpande, Managing Director at Bain Capital Ventures, also said:
“Today, trading venues are retail focused, limited to spot trading, often unregulated, and in foreign jurisdictions. The lack of institutional exchanges is the single largest barrier to crypto asset class growth. Seed CX is serving this unmet need of institutions and has assembled an outstanding team of executives to support this vision.”
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