MAX Markets Opens Crypto Trading in the UK

The company is seeking an MTF license in the country.

MAX Markets, a London-based digital asset exchange, announced on Thursday the launch of its services, offering trading with crypto and security tokens.

The institution-focused exchange has also applied for a UK Multilateral Trading Facility (MTF) license with the Financial Conduct Authority (FCA).

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The announcement also detailed that the exchange is planning for global expansion, and finally, its ecosystem will include exchanges in three regions – UK, Switzerland, and Asia. In addition, MAX will also offer a guarantee fund to ensure the performance of the contracts, along with services for digital custody.

Commenting on the development, Scott Riley, the chief post-trade officer at the exchange, said: “I am delighted to participate in this unique opportunity as digital is a hugely exciting market development and it is here to stay. Participants want access and product, customers want certainty and recourse and we’re just giving them the technology and governance to achieve that for this new asset class in a framework they are familiar with.”

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Backed by big guns

The digital asset exchange is backed by GMEX Holdings and DAG Global, both of which are founding shareholders at the exchange. GMEX will also provide its GMEX Fusion technology to the newly established exchange.

“After the success of Chi-X Europe and our rewarding working relationship, it has been great to take on the challenge of launching a London based digital assets ecosystem, alongside Scott,” Hirander Misra, chairman and CEO of GMEX Group and interim CEO of MAX, said.

“The team behind MAX is exceptional and the expertise they bring in the banking, exchange and regulatory space alongside digital assets expertise coupled with strong partnerships will place MAX at the forefront of the market.”

“DAG is excited to be part of this new venture and bring its network and associated business opportunities to the platform,” Sean Kiernan, founder and CEO of DAG Global, added. “We will also look to expand MAX’s solutions to include the addition of merchant banking services in the future.”

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