A former SpaceX engineer and stock trader Joshua Greenwald has launched a Cryptocurrency exchange for institutional traders called LXDX. This will aim to make trading easier for institutional investors.
LXDX has recently moved its base of operations to Malta, one of the most crypto-friendly regions in the world, which has also attracted to Binance, OKEx, and ZB.com.
LXDX has received funding from firms such as the venture arm of Dymon Asia Capital, a $4.9 billion investment group based out of Singapore.
Our existing Cryptocurrency exchanges have been handicapped by lack of access to liquidity, substandard matching times, inadequate cyber security and a market fragmentation that has driven away potential investors. This exchange will aim to address these deficiencies by providing some of the features more associated with professional and institutional traders. The mission of this is to make capital markets better. The focus is on Cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access.
LXDX will offer investor high-frequency trading capabilities, with full order lifecycle potentials fewer than 50 microseconds. It will also feature multi-layer secure cold storage and full know-your-customer and anti-money laundering policies. It will ensure liquidity through smart routing.
The main competitor of LXDX is Caspian which also promises to solve many of the same problems for institutional investors that LXDX does. Caspian is developed by Block Tower Capital, a Cryptocurrency hedge fund founded by Goldman Sachs executive.