LGO Group, a company building products, and services with the aim to build trust in the entire crypto-asset ecosystem, today announced that its LGO Markets digital asset trading platform for institutional investors — is live. As of now, the platform is open to institutional clients, who will be able to trade from March 11th.
The LGO Group mission is to provide a highly secure and trustworthy environment for clients. Institutional investors have been waiting for a reliable and suitable infrastructure to enter the cryptocurrency market. With this in mind, LGO Markets has been specifically designed to remove the main hurdles faced by institutions: risk and lack of transparency.
The institutional digital asset trading platform launching today is LGO Group’s first product.
[perfectpullquote align=”full” bordertop=”false” cite=”Hugo Renaudin, Co-Founder and CEO of LGO Markets” link=”” color=”” class=”” size=””]“LGO Markets will initially offer a physically settled Bitcoin to USD spot market. This could be considered as the simplest financial product, yet it does not exist in the cryptocurrency market. By bridging the processes of traditional financial exchanges and the benefits of blockchain transparency, LGO is built to be the reference venue for institutional digital asset trading.”[/perfectpullquote]
The LGO Markets platform is non-custodial and clients can trade while holding their assets. Each client’s assets are segregated from other clients’. LGO Group also said it is working with banking partners to allow segregated FIAT client accounts for trading.
The LGO Group team designed a secure structure for clients. Critical access to transactional data and private keys is made through the exclusive use of its own secure hardware elements. The end-to-end security approach prevents risks of single points of failure. Furthermore, the LGO team is working with third-party clearing firms reconciling each transaction executed on the platform and settlement of trades always requires the approval of two separate entities.
LGO Group reports they are currently applying for a BitLicense and a FINRA broker-dealer license.
LGO Markets uses blockchain technology to prevent data tampering and market manipulation on the platform. Orders are time-stamped and recorded on the blockchain before being fed to the matching engine, creating an immutable order and trade history. The blockchain becomes the source of truth and the guardian of transparency of the order book. The protocol guarantees transparency in the price discovery process while maintaining the anonymity of market participants.
[perfectpullquote align=”full” bordertop=”false” cite=”Frederic Montagnon, Co-Founder and Executive Chairman of LGO Markets” link=”” color=”” class=”” size=””] “This launch is only our first step towards achieving our long term mission. We see an opportunity to accompany the whole financial industry to transition to blockchain and distributed ledger technology. By rolling out our offer on the Bitcoin market, we position ourselves to become the leading exchange for blockchain-based assets — whether cryptocurrencies or tokenized traditional financial contracts.”[/perfectpullquote]