LMAX Digital has 175 institutional clients, a year after launch
|- The cryptocurrency exchange has had a successful year.
- With digital assets going mainstream, LMAX is poised for a bright future.
A cryptocurrency exchange LMAX Digital operated by LMAX Exchange Group, onboarded 175 institutional clients since a year after launch, according to the official statement, released by the company on Wednesday.
LMAX Digital is an FCA-regulated entity that provides institutions with access to the digital assets markets and facilitate their exposure to the new types of assets.
“Cryptocurrencies are becoming more and more accepted, and LMAX Digital has seen a huge increase in demand for digital currencies from institutional investors. They trust our platform as a safe and credible way to trade this type of currency,” Jenna Wright, head of LMAX Digital, commented.
The exchange was launched in May 2018 and quickly became one of the fastest growing divisions within the Group. According to the press release, it has facilitated over 4 million trades and turned profitable, even amid severe market conditions and a strong bearish trend that plagued the industry in 2018.
Currently, LMAX Digital process transactions worth over $400 million daily.
“We believe this is only the start of something much bigger. Exchanges like LMAX Digital are playing a crucial role in bringing the major cryptocurrencies into wider circulation, helping them to become part of mainstream capital markets,” said David Mercer, the chief executive officer of LMAX Exchange, said.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.