Bain-Backed Crypto Exchange Seed CX Is Expanding to Asia

Chicago-based cryptocurrency exchange Seed CX, which Bain Capital backed last year, is expanding to Asia.

The institution-focused exchange announced Thursday that it has teamed up with Singapore-based trading infrastructure technology provider Hydra X for the effort.

The partnership will allow Seed CX to integrate its platform with Hydra X's trading platform Sigma, which is currently in beta.

Once the integration is complete, Seed CX users will be able to view prices, trade and monitor their portfolios on the Sigma platform, as well as have access to a fiat-cryptocurrency gateway, according to Seed CX. "This partnership will also be useful in expanding our user base to include institutional traders seeking regulated and secure access to the world of digital assets," said Hydra X CEO Daryl Low.

Seed CX also said that it plans to offer a market for the Commodity Futures Trading Commission-regulated crypto derivatives through its subsidiary Seed SEF. Last September, Seed CX raised $15 million.

In a Series B funding round led by Bain Capital Ventures.

Market in January, saying it offered "a deep book of liquidity." "We're offering truly institutional level support," Seed CX co-founder and CEO Edward Woodford said at the time.

Another subsidiary of the exchange, Zero Hash, a FinCEN-regulated entity in the U.S., launched a wallet solution.

For institutions last January, aimed at adding security and transparency for its customers.

In place that bars employees from trading in cryptocurrency to avoid conflict of interest.