Seed CX, a digital asset exchange devoted to providing trading venues, institutional custody services and fiat and digital asset settlement, has officially announced the listing of three stable coins, which include PAX, USD Coin and TrueUSD. All three coins will be traded starting Friday, May 17.
As per Crypto Ninjas’ reporting, Seed CX wants to help increase liquidity within the stablecoin market.
Co-Founder of Seed CX, Brian Liston talked about the endeavour during Consensus 2019, primarily with Coin Desk Live, as seen below:
Our co-founder Brian Liston talked to #CoinDeskLive & @BLR13 yesterday about our introduction of PAX, USD Coin and True USD to our digital asset exchange. Watch here: https://t.co/YbFMQOZF9U #Consensus2019
— Seed (@SeedCX) May 15, 2019
Co-Founder and CEO of Seed CX, Edward Woodford, also expressed his sentiments regarding the platform’s moves, especially considering the fact that the three recent listings come after their successful pairings with Bitcoin [BTC], Ethereum [ETH], and Bitcoin Cash [BCH].
According to Woodward, stablecoins play a significant role in the crypto sphere, as he believes that, “they increase the velocity of movement of fiat equivalent assets 24/7.” He also shared that the three that have been included was based on the “request by a number of our trading participants.”
As for the chosen tokens, representatives from both TrustToken and Paxos have expressed immense gratitude for the support they’ve obtained. Co-Founder of TrustToken, Tory Reiss said:
“Giving institutions that can only trade on a regulated digital assets exchange access to TrueUSD will further allow for adoption […] We are excited to see Seed CX support TrueUSD and look forward to collaborating with them over the coming months and years.”
Expressing a similar sentiment is the VP of Business Development at Paxos, Scott Simpson, who believes this support implies bringing, “a trusted and regulated coin to a trusted and regulated platform for digital asset trading.”