Crypto exchange platform from America Seed CX has reportedly revealed its plan to cease all operation to redirect all resources towards settlement infrastructure. 

Specifically, Edward Woodford – head of Seed CX – reportedly revealed that its settlement-focused branch Zero Hash is now responsible for 95% of the company’s revenue.

“As we begin to look beyond just profitability to realizing our ambition of becoming the leading digital asset settlement infrastructure, we have to become more focused. Candidly, offering an exchange product directly to customers has sometimes been perceived as a conflict by some of our clients, but more importantly, it is secondary to our core mission.” 

He further disclosed that the firm will put in twice the resources to develop its “complete, automated and regulated settlement infrastructure”.

Seed CX has taken initiative to expand its market share last year, via bringing down trading fees to a one of the lowest points throughout the sector, as well as teaming up with a wide array of Asia-based Fintech companies.

Despite its efforts, the exchange reportedly only clocked in around $6 million regarding daily trading, with a substantially small proportion of that is generated by fees.