Seed CX launches PAX, USD Coin, and TrueUSD on its digital asset exchange

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Seed CX, a market for institutional trading and settlement of spot digital assets, which earlier this year successfully launched Bitcoin, Ether, Litecoin and Bitcoin Cash trading pairs, today announced the introduction of three stablecoins: PAX, USD Coin and TrueUSD to its digital asset exchange, bringing increased liquidity to the stablecoin market.

Through its subsidiaries, Seed CX offers a licensed exchange for institutional trading and settlement of spot digital asset products, and plans to offer a market for CFTC-regulated digital asset derivatives.

The three stablecoins (PAX, USD Coin and TrueUSD) will begin trading against the USD fiat on Friday, May 17th.

In the coming weeks, Seed CX plans to offer further tradable pairs between PAX, USD Coin and TrueUSD and additional fiat currencies, including EUR. For the USD, each stablecoin will trade with a minimum order size of one coin, and tick size of .0001. The margin requirement to trade these pairs will be 10%, which will allow participants up to 10x leverage.

Seed CX is an institutional exchange and settlement infrastructure, purpose-built for customers requiring security and stability as well as best execution through deep liquidity. Additionally, participants of the exchange can utilize leverage to buy and sell digital assets with multiple forms of collateral being accepted as initial margin for trading.

Seed CX wholly owns a number of subsidiaries include:

  • Seed Digital Commodities Market: a spot exchange for digital asset commodities.
  • Zero Hash: a FinCen-regulated Money Service Business and FX Dealer as well as a Money Transmitter in over 30 States. Zero Hash custodies both fiat and digital assets, with on-chain settlement.
  • Seed SEF: a CFTC-regulated Swap Execution Facility (SEF) that plans to offer a market for CFTC-regulated digital asset derivatives.
  • Seed Digital Securities Market: currently pending registration as a Broker-Dealer with FINRA and an ATS with the SEC.

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