Institutional crypto trading venue LMAX Group is working with Morgan Stanley and investment bank KBW to review strategic options, according to CoinDesk. The paths under consideration include a sale, a merger with a special purpose acquisition company, and an initial public offering in either Nasdaq or Europe. People familiar with the matter said the company could be valued at as much as $5 billion.
The report said LMAX is not under pressure to go public soon. Its foreign exchange business has helped support the company while the crypto market remains weak. That cushion appears to give the group more flexibility as it studies different routes.
LMAX has also been expanding its product scope. In recent years, it launched a 24/7 multi-asset exchange that supports foreign exchange, digital assets, commodities and tokenized securities. Earlier this year, in January, Ripple made a $150 million strategic investment in the company. The funding is intended to help drive institutional adoption of the RLUSD stablecoin through LMAX’s trading and settlement network.
Institutional crypto trading platform LMAX Group is working with Morgan Stanley and investment bank KBW to evaluate strategic options, according to CoinDesk. The choices under review include a sale, a merger with a special purpose acquisition company, and an initial public offering in either Nasdaq or Europe. People familiar with the matter said the company could command a valuation of as much as $5 billion.
The company is not rushing toward a listing, the report said. Its foreign exchange business has provided support while the crypto market remains weak.
LMAX has accelerated its expansion in recent years and launched a 24/7 multi-asset exchange covering foreign exchange, digital assets, commodities and tokenized securities.
In January this year, Ripple made a $150 million strategic investment in LMAX. The capital is set to support institutional adoption of the RLUSD stablecoin through the company’s trading and settlement network.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
