Seed CX Announces the Launch of PAX, USD Coin & TrueUSD
The Seed CX has announced the addition of three Stablecoins, namely PAX, USD Coin and TrueUSD, which would lead to increased liquidity on the Stablecoin market.
The company led by Edward Woodford now enables spot trading against the dollar on the three Stablecoins. They plan to offer additional trading pairs in the near future with Euro and other fiat currencies. Seed CX is also planning to offer the regulated crypto derivatives market for US Commodity Futures Trading Commission (CFTC).
Stablecoins play a key role in the cryptographic sphere, according to Woodford, as he believes that they “increase the speed at which fiat equivalents are moved 24 hours a year.” He also shared that all three included were based on the demand from several of our trading players.
On Friday 17 May, three Stablecoins are said to start trading with the USD fiat. Seed CX plans to provide tradable pairs of additional fiat currencies, including Euro, in the next few weeks between PAX, USD Coin and TrueUSD. For USD fiat peers, the minimum order size of a coin and the tick size of the Stablecoin will be 1.0001, respectively. These pairs will have a margin for the trading of 10 %, enabling traders with up to 10x leverage.
Seed CX is an institutional settlement and exchange infrastructure designed to meet customers needing security, stability, and best performance through profound liquidity. Exchangers may also use leverage to buy and sell digital assets that accept several forms of collateral as the initial trade margin.