Exchanges Round-Up: Seed Cx Announces Series B funding, Paysend Partners With Bitstamp
In recent news pertaining to cryptocurrency exchanges, Paysend has partnered with Bitstamp to facilitate cryptocurrency purchases through its Global Account, and Seed Cx has announced a $15 million USD Series B funding round.
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Seed Cx Announces $15 million Series B Funding Round
Chicago-based Seed Cx has announced a $15 million USD Series B funding round. The round was led by Bain Capital Ventures and brings the company’s total funding to $25 million.
Edward Woodford, Seed CX’s co-founder and CEO, stated: “As a licensed exchange for both spot and derivatives trading, we deliver the operational risk safeguards, strong institutional technology, operational support, and regulatory compliance that institutions demand. What is particularly exciting is that our unique offering brings large institutional traders, who have so far sat on the sidelines, into the crypto space for the first time.”
Salil Deshpande, Managing Director at Bain Capital Ventures, stated: “Institutions are seeking regulated, secure, and reliable crypto venues with diverse products that allow them to earn strong returns. 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.”
Paysend Partners With Bitstamp to Compete With Revolut
Paysend has launched it’s “Global Account” – a product designed to compete with Revolut. The app will allow users to spend and transfer money via mobile app and debit card. The app supports EUR, GBP, USD, RUB, and KZT, and provides access to the cryptocurrency markets on Bitstamp – owing to a partnership between the two companies.
Paysend’s head of product, Alex Murashko, stated: “We are quite different from both a technical infrastructure and consumer offering viewpoint. We own and control our own processing and this gives tremendous ability and flexibility to deliver a wide variety of services whilst controlling the entire consumer journey.”
Mr. Murashko continued: “[…] We believe in simplifying the consumer experience so that instead of feeling like they are bombarded with a long list of features they have available a focused group of benefits.”
What is your response today’s news round-up on exchanges? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Paysend
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