Boston-based alternative investment firm Bain Capital Ventures has driven a $15 million funding round for an institutional cryptocurrency exchange Seed CX, as indicated by an official declaration published September 12. Seed CX is a Bain Capital Ventures supported, authorized digital asset exchange for both spot market and U.S. commodities and Futures Trading Commission (CFTC)- regulated subsidiaries.
Per the declaration, Seed CX’s total subsidizing has achieved more than $25 million after the most recent $15 million Series B funding round. The exchange will utilize the recent investment to enhance its physical trading foundation, grow its system of institutional trading groups, and also make new openings for work to expand staff.
Edward Woodford, Seed CX’s, and CEO focused on the significance of institutional investors and expert dealers in the further selection of digital assets. Woodford also noticed that the trade is ready to bring large institutional traders, who have so far sat on the sidelines, into the crypto space,” some “for the first time.”
Salil Deshpande, Managing Director at Bain Capital Ventures, went with the declaration with an announcement:
“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.”
In April, Bain Capital Ventures took an interest in a $133 million funding round of U.S.- based stablecoin venture Basis, in the past known as Basecoin. Basis guaranteed that it would give a non-unstable cryptocurrency by methods for robotized tasks did by a blockchain-based “algorithmic central bank”.