Crypto exchange company Seed CX has raised $15 million in a Series B funding round.
Bain Capital Ventures led the exchange's $15 million Series B fundraise, according to statements, bringing the company's total fundraise to $25 million. The exchange offers trading and settlement services for spot markets and other derivatives regulated by the Commodity Futures Trading Commission.
Additionally, the exchange has applied for a BitLicense through the New York Department of Financial Services and a broker-dealer registration through the Financial Industry Regulatory Authority.
The exchange hopes to offer trading services for digital assets that are similar to other existing commodities and equities, co-founder and CEO Edward Woodford said in a statement.
Woodford added:
Seed CX intends to draw both institutional investors and other professional traders, he said.
Its new funds – which come on top of $10 million the exchange had previously raised – will go toward building up its physical trading infrastructure, growing its network of trading groups and hiring more employees, the release stated.
STORY CONTINUES BELOW
Recommended for you:
In particular, the exchange is looking to hire individuals for its operations, market surveillance and technology wings, and aims to grow its team to 40 people.
Dollars image via Shutterstock