LMAX Trading Service Is Now Providing Crypto Trading For Institutional Investors

Industry 1 min, 42 sec READ

by Chris Madill

LMAX Exchange Group (LMAX), a well-established forex trading service, has released a crypto trading platform aimed at institutional investors

LMAX Exchange Group (LMAX), a well-established forex trading service, has announced the arrival of their new cryptocurrency exchange platform, “LMAX Digital”. The service will place institutional-level investors in contact with five of the most liquid digital assets in today’s cryptocurrency market, lending a new level of legitimacy to the digital asset class.

The LMAX Digital exchange was developed to meet the growing demands of “existing institutional clients, who desired a credible, efficient and trusted platform on which to trade digital currencies with like-minded institutions”. LMAX’s new cryptocurrency exchange will be initially offering trading for Bitcoin, Ether, Litecoin, Ripple and Bitcoin Cash, and will operate in London, with plans to expand the service to both New York and Tokyo in the near future.

David Mercer, CEO of LMAX, commented on why he believes LMAX is positioned to bring institutional investment and legitimacy to a cryptocurrency market looking to expand its marketcap:

“[LMAX is] perfectly positioned to address the gap in the market for a robust physical cryptocurrency exchange operating with institutional liquidity... ...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.” 

Despite reports indicating Wall Street giants like the New York Stock Exchange and Morgan Stanley are eyeing-up crypto-markets, much of the recent hype around institutional investment in crypto has been speculative in nature, lending little stability or movement to cryptocurrency markets. Now, with LMAX’s strong footing in the world of institutional-level forex trading, the creation of a reputation-backed cryptocurrency exchange service is a tangible step towards crypto-adoption for institutional investors.