LXDX, a crypto trading firm built exclusively for institutional investors, is expanding its services by launching a crypto exchange for all investors. Forex trading news website LeapRate published the announcement on September 17th 2018.
Joshua Greenwald, a former Senior Moonraker Project Engineer at SpaceX and the CEO of LXDX, said, “The mission of LXDX is to make capital markets better. Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access. When we built top tier infrastructure for traditional markets, our team solved many of the same problems facing cryptocurrency exchanges today. We are excited to bring a higher caliber of technology to cryptocurrency investors everywhere.”
Will Roman, co-founder and COO of LXDX, also added, “Lack of access to liquidity plagues existing cryptocurrency exchanges. Substandard order matching times, inadequate security protocols, and market fragmentation drive institutions away from exchanges and to over-the-counter venues.”
Aon, a London-based insurance company, is collaborating with LXDX to design an insurance policy for the crypto exchange. Other partners of LXDX include Autonomous, Dymon Asia, BTC Labs and DLA Piper.
Steven Thomas, CTO of LXDX, previously worked as a cryptologic technician in the US Navy. Thus, LXDX ensures investors that their system is provided with privacy and security. Some of these features include, “multilevel physical and cybersecurity frameworks, hardware custody solutions (including fully isolated and fully cold wallets), and real-time trade surveillance.” After receiving funding from Dymon Asia, LXDX also announced that it was moving to the blockchain island Malta.
Ever since the beginning of 2018, Malta has welcomed a great number of blockchain and crypto companies. Some of these include crypto exchange Binance, cryptocurrency Monaco Card, and crypto investment trading market Coinvest. Malta is also creating a blockchain strategy — Prime Minister Joseph Muscat has said that he want Malta to become “a global trail-blazer”.