Sliema, Malta-based cryptocurrency exchange platform LXDX is gearing up to announce its official launch following an undisclosed amount of funding received from Singapore-headquartered Dymon Asia Venture Capital Fund LP to make the exchange platform widely available, according to an email CoinReport received from Blonde 2.0, LXDX’s communications firm.
Dymon Asia Ventures is the venture capital arm of Dymon Asia Capital, a Singapore-headquartered alternative investment manager with reportedly about $4.9 billion under management as of June 29, 2018 (including notional assets and committed capital), says a press release on the PR company’s website.
LXDX says it will be offering full-spectrum technology services to digital currency exchanges, including software that powers both public retail exchanges and private exchanges for institutional block trading.
With the backing by Dymon Asia Ventures, LXDX says it can extend its reach and reinforce its technology offerings.
The exchange platform aims to make the digital currency space more accessible to hedge funds, investment banks and others used to the dependability and productivity of traditional markets. Exchanges, says the news release, will be able to offer a superior trading environment to their traders with data infrastructure, unified security operations and high-speed performance built into the LXDX exchange platform.
LXDX CEO Joshua Greenwald; formerly of SpaceX and founder of Greenlight Trading, a Chicago-based high-frequency trading outfit; said about his firm’s origins, “We built LXDX in response to the aversion conventional finance institutions have had to the cryptocurrency space. Joining forces with Dymon allows our team, with decades of trading experience, to bring the qualities of traditional lit and dark exchanges to these new markets.”
The platform’s operations are advised by Alex Disney, formerly of Cumberland Mining; Justin Litchfield of Prochain Capital and digital currency investor and author Arianna Simpson. On the legal front, the company is assisted by DF Advocates, Masur Griffitts + and DLA Piper.
Dymon Asia Ventures’ Christiaan Kaptein commented, “We are extremely pleased to be a part of LXDX’s mission to improve the infrastructure of cryptocurrency trading.
“We believe that blockchain investors deserve the reliability, performance, and professionalism found in traditional markets. We are thrilled to be supporting LXDX in their vision and execution of a more efficient trading system.”
Via press release