For Bitcoin exchange-traded funds (ETFs), it’s just another day and another delay as the Securities and Exchange Commission (SEC) initiated proceedings regarding the Wilshire Phoenix Bitcoin (BTC) exchange-traded fund (ETF) proposal earlier this week. As cryptocurrency supporters within the capital markets await a decision on a crypto-related ETF, the space is still moving forward with innovation.

The price of Bitcoin has now fallen below $10,000 after it saw a run-up from positive news regarding social media giant Facebook’s offering of its cryptocurrency project, dubbed “libra.” Since then, however, Bitcoin has stumbled, particularly with the latest news on the lack of an ETF hitting the market with SEC approval.

Despite the lack of a Bitcoin or crypto-related ETF, the digital asset space is still evolving. For example,   Zero Hash, the complete digital asset and fiat currency settlement service, today announced that the electronic digital asset trading platform Artificial Intelligence Exchange, or AiX, has agreed to use Zero Hash to settle its OTC trades.

Zero Hash, which in March launched a suite of over-the-counter (OTC) trade settlement services for digital assets, and recently announced support for forwards, is a BitLicense holder, a FinCEN-regulated Money Service Business, as well as a Money Transmitter in over 30 states.

AiX is the world’s first natural language AI broker, automating peer-to-peer trading of financial assets anonymously. Launching first digital assets, clients of AiX will eventually be able to source liquidity and execute in any tradable asset. By automating the broker function, AiX is able to drastically reduce trading costs for counterparties whilst simultaneously providing a superior service.

“We are very pleased to be working with AiX, to allow their clients to settle digital asset and fiat trades,” said Edward Woodford, Seed CX co-founder and CEO of Zero Hash. “Zero Hash has been designed from the ground up to settle trades for OTC trading platforms and their clients by offering complete flexibility in a secure and regulated ecosystem.”

“Crypto markets are evolving quickly, but still screaming out for efficient price discovery and execution. Through its partnership with Zero Hash, AiX will provide crypto market participants with the ability to source liquidity instantly from around the world, and settle automatically, all for a fraction of the costs that they are currently paying. We are very excited to be launching this combined product with Zero Hash,” said Jos Evans, Founder and CEO of AiX.

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