In recent times, there has been an explosion in cryptocurrency demand, so that institutional investors seem to be more and more seduced. LMAX, a UK financial platform, recently announced its entry in the cryptocurrency industry with the launch of a new exchange exclusively reserved for institutional investors.
LMAX targets institutional investors
A May 21 LMAX press release confirmed intention of the company. It is committed to "further legitimize" the reputation of crypto-currencies within the circle of traditional investment.
"The rise of institutional trading of cryptocurrencies will change the game. Digital currencies are, without a doubt, getting older, " commented David Mercer, the CEO, in the release.
The exchanges will play a crucial role in spreading major crypto-currencies, helping them to be accepted into conventional funds, which in turn, will help support value normalization.
A safe and secure trading environment
LMAX is neither the first nor the last traditional institution to engage in cryptocurrencies. Other companies like Goldman Sachs and eToro, have joined the race lately.Mercer added that the new cryptocurrency platform will be named LMAX Digital. Open 24 hours a day, 7 days a week, the expansion of the service could extend to New York and Tokyo in the future.
https://twitter.com/LMAX/status/998483137603756033
"We are strengthening the legitimacy of the cryptocurrency market by providing institutions with a platform to securely acquire, trade and hold cryptocurrencies with high-quality, high-quality liquidity," he said.
"We applied to LMAX Digital everything we learned in the institutional trading market to create a fundamentally enhanced and secure digital exchange. "The grant will also provide ' wallets multi-signature hot and too cold (cold wallet) "in order to promote optimal safety. In addition, a central order book (CLOB) and a rule book will be established and easily accessible for all users.
More than $ 10 billion in fiduciary money has been traded on the traditional LMAX stock exchange since its inception in 2010.
"The company provides FX trading services to institutional clients in around 100 countries," the company said in a previous press release. With the company's experience in Forex trading, the launch of LMAX Digital has been made easier at best.
What do you think of the LMAX Cryptocurrency Exchange Service? Let us know in the comments section below.
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