Since the start, many major companies have collaborated to work for some blockchain based products. This shows that even after the crypto market crash last year, people still believe in the application of the technology. Moreover, many blockchain solutions are appearing beyond cryptocurrencies that allow further crypto adoption.
Now Seed CX, a company based in the United States (U.S) is set to collaborate with a Singapore-based Fintech company, Hydra X, to enable services in Asia.
Seed CX is a US-based cryptocurrency exchange that supports institutions trading of various cryptocurrencies. The firm is registered to support digital trading for both spot markets and the derivatives regulated by US authorities.
The firm recently had a funding round led by Bain Capital in which the firm was able to raise around $15 million. Following it in January this year, the firm launched an on-chain wallet product as well as a spot trading product. Both of these solutions are currently restricted to institutional investors.
Hydra X is a Singaporean company that develops professional trading technology solutions to connect digital assets with the financial markets.
Through the collaboration Seed, CX will become available through the Sigma platform provided by Hydra X. The aim is to enable Seed CX to support cryptocurrency trading services across Asia. As of now, the platform is still in its pilot phase.
Moreover, the collaboration will also allow Hydra X to access the fiat-crypto gateway of Seed CX.
How the collaboration proceeds remain to be seen. Meanwhile, another study showed that more than 90% of digital trade on unregulated exchanges is either fake or non-economic.