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LMAX introduces a new platform aimed at bridging the gap between cryptocurrency and foreign exchange.
Omnia enables users to trade any asset directly against any other at all times, without limitations on size or type.
LMAX CEO David Mercer (LMAX Group)
Key points:
- Omnia enables users to trade any asset directly against any other at all times, without limitations on size or type.
- Assets can be settled using traditional methods or immediately on the blockchain.
- LMAX reported an institutional crypto trading volume of $8.2 trillion last year.
Institutional crypto exchange provider LMAX Group has introduced Omnia Exchange, which is designed to facilitate the seamless conversion of FX, crypto, stablecoins, and other digital assets within a single platform, as stated by the company on Tuesday.
Characterized as “a unified multi-asset infrastructure layer,” Omnia enables users to trade any asset directly against any other at all times, without restrictions on size or type, and to settle using traditional methods or immediately on the blockchain, according to a press release.
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LMAX’s focus on cryptocurrency has established it as a significant entity in institutional crypto trading, with a reported institutional volume of $8.2 trillion last year.
While LMAX Digital serves as an institutional crypto execution venue and custodian concentrating on crypto-FX pairs, Omnia seeks to consolidate FX, crypto, stablecoins, and other digital assets into one platform, allowing for the direct trading of any asset against any other (not solely crypto versus fiat), as mentioned by a spokesperson for LMAX via email.
LMAX CEO David Mercer noted that Omnia “crosses the rubicon” between conventional markets and digital marketplaces.
“Omnia Exchange is the foundation for a new paradigm in capital markets, providing institutions the capability to exchange any asset, anytime, anywhere,” Mercer stated in a release. “By facilitating access to wholesale FX and digital asset markets worldwide, we’re eliminating barriers, minimizing friction, and unlocking liquidity. Institutions can exchange value as easily as sending a message, creating hyper-efficient capital.”
A recent partnership between LMAX Group and Ripple to incorporate the latter’s RLUSD illustrates the growing momentum behind stablecoins as means for institutional market access, rather than just for crypto-native applications.
