Crypto Exchange Seed CX Introduces New Solution For Wallets
Seed CX, the Chicago crypto exchange aimed at institutional investors, introduced a new solution, which involves the creation of segregated crypto wallets, as follows from the company's press release.
The Seed CX solution was developed together with its Zero Hash division, which deals with the storage of digital assets and fiat currency and also provides intranet settlement services. The work of Zero Hash is approved by the financial regulatory authorities in 25 states of the country. Besides, the licensing financial department of the state of New York may grant the company the respective permission called BitLicense.
The Seed CX customers will have unique access to a segregated crypto wallet, which will have more protection than the universal products of other platforms. The developers claim that the distribution of funds onto several unique crypto wallets will reduce the risk of attacks from intruders.
In order to provide a high anonymity level, Zero Hash will create new crypto wallet addresses for clients every time they transfer funds. Moreover, a number of measures will be taken to protect digital assets, including a maximum amount of withdrawals and a multi-signature system.
Considering that according to some data, 31 crypto exchanges were hacked over the past eight years and about $1.3 billion was stolen, Seed CX criticized the protocols of some platforms that do not comply with security requirements.
As previously reported, DX.Exchange will trade tokenized shares.