The cryptocurrency exchange Seed CX has launched a new wallet specifically designed for institutional investors. Seed CX offers exchange services focused on institutions. This time, the company will be offering a new wallet that features onchain settlement and provides customers with a unique wallet.
Customers will be able to easily check deposits, withdrawals and other transactions. The service increases security since malicious actors would not have to target a few wallets but, instead, many others.
According to Edward Woodford, the co-founder and CEO of Seed CX, said that the intention is to make hackers’ work even more difficult. This is something that would limit the amount of funds that could be stolen in the future.
Woodward commented about this issue:
“On-chain settlement helps Seed CX provide trading firms with an experience that is both cost effective and high performance, while also providing the operational and financial security investors demand.”
In order to provide these new services, Seed CX will be doing it through its setlement subsidiary Zero Hash. Julie Myers-Wood, Zero Hash public director, explained that the company analyzed issues faced by other exchanges and took the necessary steps to tackle them.
The cryptocurrency market is becoming increasingle prepared to receive new investments from institutional investors. There are several other firms developing other institutional-grade projects such as the Intercontinental Exchange (ICE).