LMAX Launches First Institutional Crypto-Exchange
The LMAX Exchange announced today that it has launched the first institutional cryptocurrency exchange.
The exchange, which is called LMAX Digital, will enable institutional investors to trade in five different cryptocurrencies.
Thi will be music to the ears of an industry that has often struggled to gain a sense of legitimacy.
With so many dodgy exchanges and shady initial-coin-offerings, the opening of an institutional-only crypto-exchange will provide crypto-enthusiasts with a seal of approval.
LMAX Exchange’s CEO, David Mercer, said: “The rise of institutional trading of cryptocurrencies 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.”
Traders on LMAX Digital will only be able to trade five different cryptocurrencies. Bitcoin, Bitcoin Cash, Litcoin, Ethereum, and Ripple were chosen as they were deemed to be the most established cryptocurrencies and, more importantly, provide the highest level of liquidity. Trading is open 24 hours a day, 7 days a week.
LMAX Digital offers some other benefits to traders on its platform. For instance, the firm provides one public rulebook for all members, offers a full custodian solution and provides secure, multi-signature wallets.