Hydra X, Singapore’s financial engineering company announced its partnership with Seed CX, the Chicago-based institutional digital asset exchange. Recently, the institutional exchange announced that it has partnered with Hydra X, a Singapore-based technology provider for trading infrastructure. Seed CX will be able to integrate its platform in the beta, current Hydra X trading platform Sigma.
The Sigma trading platform is at the heart of Hydra X, a modular, high-performance trading platform for both retail and professional traders. Sigma offers a professional suite of trading tools ranging from pricing to analytics while facilitating instant price discovery and asset transfers across multiple exchanges and global brokers. Currently, Sigma is now open to beta.
As one of Sigma, an advanced multi-asset, and multi-venue platform now open to beta, Seed CJ will be integrated into the partnership. Once integration is finished, Seed CX accounts are viewed, transacted and monitored on the Sigma platform by users of their portfolios. In addition to adding another regulated exchange to the financial ecosystem of Hydra X, the integration with Seed CX also enables institutional users to access the FMG.
Seed CX is said to be the main exchange of institutions that are interested in trading in digital assets and connecting with platforms like Sigma is part of that. Seed Woodford is co-founder head of Seed CX.
“This partnership will also help to expand our user base to include institutional traders seeking regulated and secure access to the digital asset world,” said Hydra X CEO Daryl Low.
Seed CX hosted a Series B funding round in September last year, led by Bain Capital Ventures, bringing in $15 million. The additional funding at the time brought the exchange valuation to $25 million.
The company launched a regulated Bitcoin spot trading market in January saying it offered “an in-depth liquidity book.”
Seed CX cofounder and CEO Edward Woodford also said,
We offer genuine institutional support.
In January, another subsidiary of Seed CX, Zero Hash, launched a consumer wallet option. The US-based FinCEN, a regulated entity has set up the service to improve customers’ security and openness.
Hydra X provides cutting edge technology to provide mission-critical trading and settlement infrastructure for digital and traditional asset marketplaces, including the use of distributed ledger technology (DLT).
Zero Hash, the United States-based FinCEN, a controlled bond company, launched an institutional wallet solution last January with the aim of enhancing customer safety and transparency. In particular, Seed CX has a policy which prevents employees from trading in cryptocurrency to avoid conflicts of interest.