LMAX Digital, the institutional crypto currency exchange operated by LMAX Exchange Group, has just announced that it has been granted a license as a Distributed Ledger Technology (DLT) Provider from the Gibraltar Financial Services Commission (GFSC).
LeapRate reminds that LMAX Digital was launched in May 2018 as the first institutional crypto currency exchange.
The final decision received from the GFSC confirms that LMAX Digital is compliant with the nine regulatory principles set out in Gibraltar’s DLT regulations, designed to protect consumers and businesses using digital assets stored or transmitted on distributed ledgers.
David Mercer, CEO of LMAX Exchange Group, who joined LeapRate earlier this week for an exclusive interview, commented on the news:
We’re pleased to announce that LMAX Digital has been granted a DLT license by the GFSC. LMAX Digital was created to fill the gap in the crypto market by providing institutions with a trading platform they can trust, with deep liquidity, security of funds, and high performance, proven technology.
LMAX Exchange Group has always supported regulatory oversight and we always work proactively with regulators to help foster a transparent and trusted marketplace for all market participants. We are pleased that our efforts to create a more transparent and secure marketplace have been recognised by the GFSC.
Jenna Wright, Head of LMAX Digital, said:
The Gibraltar regulator has acknowledged our role in further diversifying institutional currency markets and we look forward to working alongside them and other regulators to help improve understanding of the crypto currency market.