Cryptocurrency trading platform LXDX has reportedly received backing from Dymon Asia Venture to ensure the platform becomes more widely available. The latest advisors added include Cumberland Mining’s Alex Disney, Justin Litchfield of ProChain Capital, and cryptocurrency investor Arianna Simpson.
LXDX currently offers software that supports private and public retail exchanges to institutional investors interested in block trading. The company currently works primarily with hedge funds, investment banks and conventional markets. LXDX’s features are focused largely on market liquidity and speed of transactions.
In an interview with VentureBeat, LXDX co-founder and chief financial officer John Hazen specified, “To trade cryptocurrencies like traditional financial securities, the current set of tools that are offered by current cryptocurrency exchanges cannot keep up with the volatility of the cryptocurrencies themselves. Our experience with technology that can deal with the volatility of traditional securities is built into our exchange.”
Dymon Asia Ventures is an arm of Singapore-based Dymon Asia Capital, which currently has $4.9 billion in assets under management. In addition to providing capital resources, the firm plans to aid LXDX in expanding into new markets.
LXDX hopes to supply technology that is capable of supporting high-frequency cryptocurrency trading. Combining its exchange system that’s built from scratch and architecture that is hosted on private hardware situated in primary market data centers, the company believes they can bridge the gap between market makers, retail traders and institutional investors.
Moving forward, LXDX hopes to expand their low latency technology through decentralization to further amplify speed and adapt to industry trends.