Crypto Updates

Archax Launches Institutional Crypto Exchange, Lists 2 Pairs

Crypto Investors Lost $1 Billion in Scams during the Last 15 Months, Says FTC

London-based Archax announced today (Wednesday) the launch of its institution-focused cryptocurrency exchange, which will be operational around the clock. The exchange is focused on catering to the demand from professional and institutional clients.

Initially, the exchange lists only BTC and ETH against USD. However, it plans to add more trading pairs in the coming weeks and throughout the rest of the year.

“We are thrilled to launch our crypto exchange, delivering a comprehensive and innovative trading platform for professional investors,” said Graham Rodford, CEO and co-founder of Archax.

“By combining our institutional know-how, regulatory expertise, advanced technology, and strong partnerships, we are empowering institutions to navigate the digital asset market with confidence and efficiency.”

Watch Archax’s CMO, Simon Barnby, speaking in a panel discussion at FMLS22.

Rising Demand for Crypto among Institutions

The institutional crypto institutional skyrocketed over the years. Several established financial industry players, including TP ICAP, launched institution-focused crypto exchanges. Operating with authorization from the Financial Conduct Authority (FCA), Archax is one of the front runners in the race to offer crypto services to institutions.

According to the official press release, Archax offers API connectivity to its crypto exchange for integration with institutional trading systems and workflows.

The institutional exchange came after Archax launched an insolvency remote custody offering. The two platforms are now complementing each other’s services. Last year, the company also raised $28.5 million for scaling up the launch of its products and services.

“The ability to securely hold digital assets, traditional securities and fiat assets in custody, while also having access to the new crypto exchange and crypto OTC service, creates real utility for clients looking to safely and efficiently navigate the digital asset landscape,” Archax stated.

While some companies are launching crypto exchanges for institutions, a few existing ones have shuttered. American investment bank TD Cowen closed down its cryptocurrency unit, Cowen Digital, in early June, just over a year after its launch, without providing any proper explanation. Further, Digital Currency Group…

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