Seed CX to Close Exchange, Focus on Settlements in Company Shift

[Paglamon]

Crypto derivatives platform Seed CX will be axing its exchange arm to focus solely on settlements.

Announced Thursday, Seed CX intends to focus on its Zero Hash product, the company’s custody and settlement service. Zero Hash began offering back-office settlement functions for bitcoin forwards contracts in September of last year.

“As a start up [sic], you inherently gravitate towards opportunity and that often leads you to take on more, rather than less. However, it is equally important to begin to refine the business focus as certain opportunities develop into a ‘real venture growth business,'” CEO Edward Woodford wrote in a Medium post.
Source: https://www.coindesk.com/seed-cx-to-close-exchange-focus-on-settlements-in-company-shift