LMAX launches cryptocurrency exchange for Bitcoin [BTC], Ripple [XRP], BCH, ETH, LTC exclusive for institutional clients

On Monday 21st May 2018, a London based multilateral trading facility known as LMAX Exchange Group announced that they have launched the first physical cryptocurrency exchange exclusive for institutional clients. The demand of the existing institutional clients for a credible, efficient and secure platform to trade cryptocurrencies have led way to the development of the new cryptocurrency trading platform called ‘LMAX Digital’.

LMAX Exchange has also mentioned in their statement that LMAX Digital is only going to list the most liquid and established cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Ripple [XRP] and Bitcoin Cash [BCH].

The exchange is going to align with regulations and rules laid by Financial Conduct Authority [FCA] by providing trading facility seven days a week and 24 hours a day. The exchange is going to make sure that all the market participants will be treated equally regardless of their activity levels, status and size. The exchange promises to provide best-of-breed security, KYC, compliance and anti-money laundering policies.

LMAX Exchange has transacted over $10 trillion of fiat currency in over 100 countries as a multilateral trading venue since its initial launch in 2010. The exchange operates as a worldwide FX exchange with offices in London, New York, and Tokyo.

The CEO of LMAX Exchange, David Mercer has said that they are furthering the legitimization of the cryptocurrency market by offering an institutional platform on which their clients can trade, hold and acquire cryptocurrencies securely with high quality and deep liquidity.

They are perfectly positioned to address the gap in the market for a robust physical cryptocurrency exchange. They believe that their exchange is going to support the transformation of the cryptocurrency market from the fringes to the mainstream.

David Mercer, the CEO of LMAX Digital says:

“After the launch of LMAX Digital in our London-based data center [LD4], we are true to our ambition of becoming the leading exchange. We are planning to roll out other LMAX Digital exchanges in New York and Tokyo to meet demand from our clients”

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