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28 May 2020

Seed CX Slashes Rates as Crypto Trading Fee War Looms

Seed CX Slashes Rates as Crypto Trading Fee War Looms

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Cryptocurrency exchange Seed CX has cut its fees to gain market share as competition piles into the crypto trading space.

Fee compression is already at an advanced stage at Seed CX, while other crypto exchanges still have room to cut, David Martin, chief investment officer at asset manager Blockforce Capital, told CoinDesk.

According to Martin, one of the best rates in the market is on Coinbase’s exchange: zero for makers that create liquidity and ten bps to those who take liquidity out of the platform, while a few other exchanges also give rebates to makers.

“Last summer, you had more retail-type exchanges, then companies like Seed CX came on board for the institutions,” Martin said.

A race-to-zero price competition, as in the traditional asset management industry, is likely to happen in the crypto trading space, Martin said.

While crypto derivatives are not actually digital currencies like Bitcoin, they still count as trading volume for the currencies, Martin explained

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