LMAX Introduced Institutional Cryptocurrency Exchange
LMAX Exchange Group has launched the first physical digital currency exchange pointed towards institutional customers on May 21 as per their press release.
The CEO of LMAX Exchange, David Mercer stated:
“We are furthering the legitimization of the cryptocurrency market by offering institutions a platform on which to acquire, trade and hold cryptocurrencies securely with high quality, deep liquidity.”
At first, just the most established and liquid cryptos viz. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC) will be offered.
the press release further states that trading will be available 24/7 and will be
“governed by similar rules and principles as LMAX Exchange’s FCA regulated MTF”.
According to Mercer their exchange has institutional customers in more than 100 nations and has been trading over $10 trillion of FIAT. In addition, they will launch the exchange in different urban areas and nations also like New York and Tokyo.
“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. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major cryptocurrencies into wider circulation, helping them to become accepted into conventional funds which in turn will help to support a normalization of value.”
Institutional investors have as of late begun gaining a ton of enthusiasm for the digital currency market. Presumably, when these investors drench themselves totally into the market, they would carry an enormous flow of funds with them.
As of late, Coinbase presented a suite of products principally for institutional investors and now LMAX has launched a crypto exchange for these investors. Given these facts and developments, McAfee’s tweet of an up and coming bull run holds meaning.