Seed CX Exchange Closes and Pivots to Focus on Settlements
Seed CX, a regulated crypto derivatives exchange, has announced that its exchange will close and that the company will focus on its custody and settlement service called Zero Hash. The ZeroHash product accounts for 95% of the company's revenue and offers back-office settlement services for bitcoin derivatives trading.
CEO Edward Woodford explained the decision to pivot in a recent blog post:
“As a start up, 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.”
