UK-based LMAX Exchange has added major cryptocurrencies to its trading platform. The company is a leader in the global FX industry, offering services such as institutional trading and professional trading.
Currently available in the LMAX Exchange venue are major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash.
“We are furthering the legitimisation of the crypto currency market by offering institutions a platform on which to acquire, trade and hold crypto currencies securely with high quality, deep liquidity,” said David Mercer, CEO of LMAX Exchange in a press release.
LMAX Exchange brings with it credibility which benefits the cryptocurrency industry heavily. With the company’s reputation, resources, and credentials, digital currency finds a strong ally. The company has a solid client base and offering cryptocurrency as an option for banks and institutional investors adds legitimacy to the industry.
On the flipside, small-time cryptocurrency exchanges and startups may suddenly find themselves facing gigantic opposition exactly due to the stability LMAX Exchange offers. Investors – potential and existing – are more likely to place their trust in a proven entity which is regulated by the Financial Conduct Authority, which provides a degree of protection for their investment.
While cryptocurrency exchanges are growing at a fast pace, regulations are also proving to be a problem. With already regulated institutions like LMAX Exchange entering the market, the crypto industry will benefit as a whole but startups will have a lot of catching up to do.