“Seed CX Slashes Fees To Fight Competition”
Cryptocurrency exchange Seed CX has cut its fees to gain market share as competition piles into the crypto trading space. Margin compression across the industry is the result of the most popular exchange services become commoditized as crypto usage proliferates. Fees for takers is down to five basis points from eight bps on the Seed Digital Commodities Market, while makers, who previously traded on the exchange for free, receive one bp rebate. In an interview, Seed CX co-founder Edward Woodford told CoinDesk that the fee cuts came on the heels of a record $20 million daily trading volume recorded last week, beating out top players Bittrex and Gemini in the league table.
“Binance To Launch Crypto To Yuan OTC In October”
Cryptocurrency giant Binance plans to roll out its over-the-counter (OTC) trading platform for Chinese yuan in October. Yi He, Binance co-founder and chief marketing officer (CMO) announced the news at a media session on Sept. 17, as Binance confirmed to Cointelegraph on Sept. 19. According to the CMO, Binance’s new OTC onramp is scheduled to launch next month and only targets the Chinese market, as the current plan envisions supporting the Chinese renminbi only, a Binance spokesperson said. To date, Binance has already set up an OTC trading desk that provides users with large transactions service, as noted by the representative. In April 2019, Binance saw an immense surge in OTC trading, reportedly recording nearly $80 million in profits.
“Particl To Be Listed on Bisq Decentralized Exchange”
Today, on this 16th of September 2019, Particl has been listed on the decentralized exchange BISQ. This listing goes a long way to make PART more resilient and independent from centralized exchanges and makes it much more accessible to US users which haven’t been able to easily acquire PART ever since Bittrex geo-fenced US customers from their PART/BTC market.
“CME To Launch BTC Options In 2020”
CME Group Inc. CME -0.34% on Friday said it planned to launch options on its bitcoin futures contracts in the first quarter of 2020, the latest move by an established market player to expand into the crypto business. Chicago-based CME has offered bitcoin futures since December 2017, when the price of bitcoin in the spot market briefly traded as high as $19,800 during a wild bull market. These days the market has cooled significantly, but there is still a small but growing demand among institutional and retail traders for futures and options.