London Block Exchange is a London-based leading cryptocurrency exchange that offers a wide range of products and services for all customers in Europe. The London Block Exchange provides easy access to money markets for those who are new and experienced with products and services that focus on the needs of retail and institutional investors. The London Block Exchange also supports 30+ pairs of fiat trades and cryptocurrency.
London Block Exchange is an exchange platform that allows users to trade using local currencies from various countries. This makes this trade faster and easier because users can buy or sell cryptocurrency directly, not by methods that are slower and more difficult to use and through intermediaries, such as BTC or ETH. This also means that users can trade from various countries without additional difficulties, this is what makes the London Block Exchange very different from other types of exchanges.
London Block Exchange (LBX) Announces “LBXPeg”, a New Pund-Pegged Stablecoin
London Block Exchange (LBX) Announced Creation of New Pund-Pegged Stablecoin
The London Block Exchange (LBX) has announced plans to create a new stablecoin that would be linked to the pound sterling (GBP). The exchange platform is based in London’s Canary Wharf and the stablecoin will be known as LBXPeg.
The company believes that this stablecoin is needed due to the fact that other stable cryptocurrencies in the market do not work in the same way and have ‘opaque management structures, distribution schedules and auditing processes.’
Indeed, the market has several stablecoins, including Tether (USDT), that were involved in different controversies. USDT was not able to provide clear information about its funds and how it operates. Tether did not want to undergo a full audit, something that raised concerns among investors since there are over $2.8 billion USDT in circulation.
The new LBXPeg stablecoin will be powered by the Ethereum blockchain since it offers transparency and efficiency. Moreover, it will be backed by GBP that will be held by the firm in a segregated bank account. Additionally, the company explains that it will be also pegging the currency to euro and dollar accounts with the intention to improve stability and its scope.
The company explains that stablecoins are a great tool for those investors that are worried about volatility in the cryptocurrency market.
Recently, the Gemini cryptocurrency exchange created by the Winklevoss twins launched its own stablecoin known as Gemini Dollar (GUSD). Tayler and Cameron Winklevoss were able to release this currency to the market since they received approval from the regulatory agencies from the state of New York.
Back in August, the Union Bank AG of Liechtenstein become the first bank around the world in issuing a stablecoin. The Union Bank Payment Coin is pegged to the Swiss franc, something that provides stability and recognition.
LBX offers an app for users and customers to buy and sell different virtual currencies using the pound sterling. The company received a license by the British Financial Conduct Authority.
Furthermore, in March 2018, the firm joined the ‘Faster Payments Service,’ a payment-clearing system that was invented by local banks with the intention to replace the ‘BACS’ system. Additionally, in May the company added other virtual currencies to its platform including Bitcoin Cash (BCH) and Ethereum Classic (ETC). In this way, the platform had six cryptocurrencies for customers to trade.
There are several stablecoins in the market. However, just a few of them are recognized and regulated. The LBXPeg will be a key player in the market providing stability and trustworthiness to investors.
Vision and mission
Our vision is to create a cryptocurrency exchange made with traditional traders. This is why we combine the best in traditional trading from the London Block Exchange, with the best cryptocurrency to create world-class crypto exchanges.
Our mission is to launch a new, safe and convenient platform for trading cryptocurrency directly using a fiat called the “London Block Exchange”. London Block Exchange has been developed to become a world-class cryptocurrency with one of the highest liquidity and provides absolute security at the lowest cost.
We intend to enable clients to use the London Block Exchange and cryptocurrency accounts to migrate or move (partially or wholly) position/exposure into our Group’s online trading platform efficiently, quickly and without cost, through the general use of the best back office and banking backbone and payment methods available by our group. In addition, the accumulated experience is related to Risk Management, Account Management.
Now LBX is here to help build part of a new financial ecosystem, which allows anyone to trade cryptocurrency in an easy-to-use, safe and protected environment.
Here at LBX, believe that the future is for everyone.
Here at LBX, believe that the future is for everyone.
For complete information, please visit the following link:
Website: https://lbx.com/
Twitter: https://twitter.com/LBXSocial
Telegram: https://t.me/lbxcommunity
Linkedin: https://www.linkedin.com/company/londonblockexchange
ANN: https://bitcointalk.org/index.php?topic=5052408.0
Twitter: https://twitter.com/LBXSocial
Telegram: https://t.me/lbxcommunity
Linkedin: https://www.linkedin.com/company/londonblockexchange
ANN: https://bitcointalk.org/index.php?topic=5052408.0
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