Crypto Exchange Seed CX Launches On-Chain Wallet Solution for Institutional Investors

Crypto exchange Seed CX — a Chicago-based licensed platform targeting institutional clients — has launched a digital asset wallet solution with on-chain settlement, according to a press release published Jan. 10. Seed CX has reportedly developed the new wallet solution together with its settlement subsidiary, Zero Hash — a crypto and fiat currency custodian providing on-chain settlement services. Zero Hash reportedly has FinCEN’s regulatory approval to operate as a money transmitter across 25 American states, and is also under review for a prospective BitLicense from the New York State Department of Financial Services (NYDFS).As the press release outlines, Seed CX platform users will each be assigned a unique, segregated wallet, which the company argues is more secure than existing multi-user, omnibus wallet solutions offered by other exchanges. Seed CX makes the case that dispersing digital asset holdings across multiple unique wallets helps to mitigate the risk of threat actors accessing…

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