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Collaboration to provide secure, regulated environment for insurance companies seeking short-term digital asset loans to move digital assets between customers.
CHICAGO, June 19, 2019 (GLOBE NEWSWIRE) -- Zero Hash, Seed CX’s digital asset and fiat currency custodian subsidiary, today announced that Digital Asset Redemption has agreed to utilize its settlement service to safely and securely settle short-term digital asset loans.
Zero Hash, which in March launched a suite of over-the-counter (OTC) trade settlement services for digital assets, is a FinCEN-regulated Money Service Business and FX Dealer, as well as a Money Transmitter in over 30 states.
Digital Asset Redemption (DAR) now allows its customers to settle their cryptocurrency transactions using Zero Hash's regulated platform.
“We’re excited to have DAR integrate with Zero Hash, to enable them to offer a secure and regulated ecosystem to settle their transactions,” said Brian Liston, Seed CX co-founder and President of Zero Hash. “Zero Hash has been built from the ground up to minimize the risk and operational overhead from post-trade settlement, which is perfectly suited for DAR’s business model.”
"We're thrilled to partner with Seed CX,” said Matt Leidlein, co-founder and Managing Partner at DAR. “Practical cybersecurity incident response today is fraught with legal and regulatory compliance issues. Digital Asset Redemption now offers institutional-grade solutions to businesses on the front lines of this modern battleground, allowing them to focus on limiting business interruption and loss."
Zero Hash custodies both fiat and digital assets, with on-chain settlement, and allows firms to widen the number of counterparties with whom they can trade, which streamlines reconciliation and reporting and enables frictionless settlement of transactions. Through its subsidiaries, Seed CX also offers a market for institutional trading and settlement of spot digital assets, and plans to offer a separate market for CFTC-regulated derivatives.
About Seed CX
Chicago-based Seed CX operates a digital asset exchange built expressly for institutional investors. Through its subsidiaries, Seed CX offers a market for institutional trading and settlement of spot digital assets, and plans to offer a separate market for CFTC-regulated derivatives. Seed CX is backed by Bain Capital Ventures. Seed CX wholly owns a number of subsidiaries:
Seed Digital Commodities Market is a spot exchange for digital asset commodities.
Zero Hash is a FinCen-regulated Money Service Business and FX Dealer as well as a Money Transmitter in more than 30 states. Zero Hash custodies both fiat and digital assets, with on-chain settlement.
Seed SEF is a CFTC-regulated Swap Execution Facility (SEF) that plans to offer a market for CFTC-regulated digital asset derivatives.
Seed Digital Securities Market is pending registration as a Broker Dealer with FINRA and an ATS with the SEC.
Hunter Stuart, email@example.com
About Digital Asset Redemption
DAR works with insurance companies, cybersecurity firms, and incident response teams across the globe, facilitating fast and legal resolution to ransomware attacks, including instant payments for demands denominated in Bitcoin and other cryptocurrencies, helping minimize business interruption and other costs associated with these attacks.
Matthew Leidlein, firstname.lastname@example.org