The appeal to institutional crypto investors, with Seed CX’s Edward Woodford

In this episode I talk to Edward Woodford about the tools his firm is building for institutional market participants.

Welcome to Ledger Cast, hosted by me, Brian Krogsgard (@ledgerstatus on twitter), and Josh Olszewicz (@carpenoctom). Ledger Cast is a cryptocurrency trading and blockchain ecosystem podcast. Ledger Cast is brought to you in partnership with Brave New Coin.

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In this episode, I talk to Edward Woodford, the CEO and co-founder of Seed CX. Seed CX is a platform for institutional investors to trade crypto, with up around 3x margin. We discuss the challenges building a product for institutions, for acquiring proper licensing in the United States, and a bunch of stuff around building a quality exchange business and trading experience.

SeedCX interests me for a couple reasons. For one, collateral is very flexible and can be in bitcoin or multiple forms of fiat. Secondarily, taker fees are only 8 basis points and maker fees are 0. Thirdly, there is a nightly settlement process so each customer has their own wallets, while trading is on their centralized platform. Finally, they are a nearly 24/7 market (unlike CME).

I enjoyed this chat with Edward, learning how they have built things, and the challenges they face — particularly the competition with more “cowboy” exchanges.

Thanks to our new sitewide partner, Brave New Coin. BNC is well aligned with my goals for Ledger Status, offering excellent market commentary, data, and other products that benefit crypto traders and investors.

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Music: “Oh, the chains” by Joel Madison Blount