LMAX Group launched a digital asset booking solution for institutions

Global cross-asset marketplace LMAX Group has launched a kiosk portal that enables institutional clients to deposit digital assets into LMAX custody and trade in the FX, metals, derivatives and crypto markets.

The product allows customers to post digital assets for spot foreign currencies, precious metals, futures, futures and digital assets as bonds, the company said on Tuesday.

The kiosk includes deposit, withdrawal, API credential management, WalletConnect, security controls and treasury management tools, according to LMX.

Crypto holdings are part of LMAX's broader push to connect traditional and digital markets by enabling trading across multiple asset classes.

David Mercer, CEO of LMX Group, said: “High leverage securities will be the foundation for modern and integrated capital markets.”

The new platform follows similar initiatives from institutions such as the Depository Trust & Clearing Corporation (DTCC) and Franklin Templeton as part of a broader trend to build more onchain securities assets.

LMAX digital cryptocurrency platform. Source: Lmaxdigital.com

Institutions are testing on-chain collateral.

Some large financial institutions are experimenting with tokenized securities and onchain bond assets.

In early February, investment manager Franklin Templeton announced the launch of an institutional collateral program with crypto exchange Binance, which will allow clients to use tokenized money market fund (MMF) shares as collateral for trading activities, while the underlying assets remain under control, Cointelegraph reported.

Franklin Templeton's model allows institutions to earn yield on regulated money market funds while using the same positions without guaranteeing digital asset trading.

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On May 4, DTCC announced plans to launch a pilot for trading tokenized securities in July with the goal of fully launching the service in October, Cointelegraph reported. The DTCC service offers real-world assets with the same investor protection and ownership rights as traditionally held assets.

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