Fintech firm LMAX Exchange Group will be launching LMAX Digital, the first institutional cryptocurrency exchange which will let institutional investors trade Bitcoin, Bitcoin Cash, Litcoin, Ethereum and Ripple, five of the most established cryptocurrencies with the highest level of liquidity.
The move symbolizes the recognition of the crypto trade by the financial institutions as a legitimate industry, a long-awaited triumph of crypto enthusiasts who struggled with the stigma.
LMAX Exchange’s CEO, David Mercer, said: “The rise of institutional trading of crypto currencies 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.”
The new exchange will be launched from LMAX’s data centre in London with plans of setting up in Tokyo and New York is being targeted in a few months.
Aside from the five top currencies, platform users of LMAX will also benefit from the public rulebook for all members, offer a full custodian solution and provide secure, multi-signature wallets offered by the company.