LMAX Digital, the cryptocurrency exchange of the , has announced its trading volumes for the month of May this Tuesday, revealing record trading volumes for the month.
In May, $5 billion was traded on LMAX Digital, a record for the crypto exchange. On the 12th of May, the regulated institutional exchange achieved a record high of more than $400 million in daily spot volumes.
As highlighted by the company, the monthly volumes achieved in May are more than double that record in April, which stood at $2.2 billion. However, it is worth noting that in terms of trading – both in crypto and foreign exchange (forex).
Returning volatility to the crypto markets is the main driver for the company’s solid volumes in May. As Finance Magnates has reported extensively, so far in 2019, trading volumes have been lackluster as market volatility has been low, with May showing the first signs of action.
LMAX Digital Sees Growing Demand from Asia, Europe and US
LMAX Digital, which was , has already managed to that are trading with the digital asset exchange, proving that there is a genuine appetite for cryptocurrencies amongst financial institutions.
According to the statement released today, the exchange is seeing a lot of activity coming from Asia, with Japan leading the charge. In addition, the company has noted a growing interest in cryptocurrencies from European and US institutions.
“LMAX Digital currently has a rich pipeline of institutional clients and we have had to increase our on-boarding team in London and Gibraltar to cope with the unprecedented demand,” Wright added.
“Their expectations of low latency, efficient price discovery and deep liquidity are met by the LMAX Exchange Group technology stack which has been employed for LMAX Digital. LMAX Digital benefits from the $100m proprietary technology investment the Group has made in the past 7 years.”
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