LGO Group announced Monday the launch of LGO Markets, a digital asset trading platform dedicated to institutional clients. Trading on LGO will start on March 11th, 2019.
Institutional investors have been waiting for a reliable and suitable infrastructure to enter the cryptocurrency market. With this in mind, LGO Markets has been specifically designed to remove the main hurdles faced by institutions: risk and lack of transparency.
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The company is committed to providing a highly secure and trustworthy environment for its clients. Data and volume manipulation are prevented through the use of blockchain technology. Trading on LGO Markets also means no counterparty risk as clients hold their funds (non-custodial). LGO Markets aims to be fully compliant with regulations and is currently applying for a BitLicense and a FINRA broker-dealer license.
LGO Markets’ platform will initially offer a physically settled Bitcoin to USD spot market. Hugo Renaudin, CEO of LGO Markets added: “This could be considered as the simplest financial product, yet it does not exist in the cryptocurrency market. By bridging the processes of traditional financial exchanges and the benefits of blockchain transparency, LGO is built to be the reference venue for institutional digital asset trading .”
As for now, more than ten institutional clients have already joined the platform. They are mainly OTC trading desks, hedge funds, crypto businesses, and market makers.
The company is aspiring to bring innovative solutions to the financial markets, where all representations of value can be exchanged seamlessly, transparently and with less risk thanks to the blockchain technology. Frédéric Montagnon, Co-Founder and Executive Chairman of LGO Markets, added: “This launch is only our first step towards achieving our long term mission. We see an opportunity to accompany the whole financial industry to transition to blockchain and distributed ledger technology. By rolling out our offer on the Bitcoin market, we position ourselves to become the leading exchange for blockchain-based assets – whether cryptocurrencies or tokenized traditional financial contracts .”