The New York State Financial Services Authority (NYDFS) has issued two licenses for conducting virtual currency (BitLicense) activities to Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. Both of them act as Bitcoin exchange operators for institutional investors Seed CX.
DFS Grants Licenses to Seed CX Companies https://t.u/uj8UAxDtXV
– NYDFS (@NYDFS) July 15, 2019
Note that Zero Hash LLC also received a license to make money transfers, which allows it to provide services to large financial companies in partnership with SCXM, which provides Bitcoin trading.
Seed CX offers customers to carry out trade operations through the FIX-protocol, graphical user interface (GUI) and web API. At the same time, the exchange offers marginal instruments, and the dollar deposits of users are stored in US banks and insured by the Federal Deposit Insurance Corporation (FDIC).
The spot market for Bitcoin exchange launched in early 2019. At the same time, it supports Ethereum, Litecoin and Bitcoin Cash; fiat currencies include the US dollar, the British pound, the euro and the yen.
In the coming months, Seed CX intends to receive the approval of the Commission for urgent exchange trading of the USA (CFTC) to launch deliverable bitcoin futures. Thus, it will become a competitor to Bakkt , ErisX , LedgerX and trueDigital.
Recall that the main investor in Seed CX is venture capital firm Bain Capital Ventures. At the moment, the stock exchange has raised at least $ 25 million.
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