LMAX Exchange, a London-based foreign exchange trading platform, has launched the first physical cryptocurrency exchange dedicated to serving only institutional clients.  The platform which is called LMAX Digital will offer a 24/7 access to the investors to trade cryptocurrencies namely Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash. 

LMAX in a statement said that its new platform will provide the same level of security, compliance, KYC and anti-money laundering policies and procedures as its established operations on the LMAX Exchange.

This new development is being welcomed by the investors as it will help in allaying the fears and apprehensions of institutional investors who are looking for credibility and legitimacy in the cryptocurrency space. CEO David Mercer said -

“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.”

“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,” he added.

It could also encourage the banks, asset managers and sovereign wealth funds who have been shying away from cryptocurrencies to enter the market.  

After its launch in London, LMAX Digital is also expected to roll out the infrastructure in New York and Tokyo in near future.  The move is expected to have an unprecedented impact on the crypto industry even as new wallet and exchange service providers are entering the market every day, vying to gain a foothold on the untapped potential of the cryptocurrency market.