There is a new player in the crypto world and that is the British LMAX Exchange Group.
They are a fintech company that owns the LMAX exchange and today have announced that they were launching as they say, the first institutional cryptocurrency exchange. The name of the exchange will be LMAX Digital, and will make it easy for institutional investors to trade with five cryptocurrenies: Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ripple.
An announcement by the CEO of the exchange David Mercer about their decision to open states:
“The rise of institutional trading of crypto currencies will be a game-changer for the industry. We believe our new exchange will support the transformation of the crypto market from the fringes to the mainstream.”
Besides being the only institutional crypto exchange, LMAX Digital also offers a range of other benefits to the traders. It provides one public rulebook for all members, full custodian solution and of course a secure multi-signature wallet.
“We are perfectly positioned to address the gap in the market for a robust physical cryptocurrency exchange operating with institutional liquidity,” the CEO continued.”Over 10 trillion of fiat has been traded on our exchanges to date and we have institutional clients in over 100 countries. We’ve applied everything we’ve learned in the institutional FX market to LMAX Digital, to create a fundamentally improved, secure digital exchange based on our proven trading technology, market leading liquidity and transparent and precise execution.”
The opening of this exchange will ring the bells for the industry that we know often struggled to gain legitimacy, surrounded by all of the shady ICO’s and dodgy exchanges.