Wednesday, January 23, 2019

Atom Will Use London Stock Exchange’s Tech for Its Cryptocurrency Exchange

Amsterdam, the Netherlands - September 30, 2018 Website of London Block Exchange or LBX, UK's first cryptocurrency exchange. Source;

A new cryptocurrency exchange from Hong Kong-based Atom Group will feature trading technology from the London Stock Exchange.

The move will help Atom debut its new AAX exchange based on the Millennium Exchange matching engine used by the LSE.

A New Crypto Exchange for Hong Kong

The Atom Group will utilize the LSE Millennium Exchange matching engine in its new AAX exchange platform, as noted in the company’s Tuesday statement.

It didn’t disclose the terms of the partnership but noted that bourses are also using the LSE technology in Singapore and Hong Kong.

AAX holds a transitional license in Malta and is currently finalizing a license in Estonia as well, Atom’s CEO Peter Lin told Bloomberg in an interview.

He noted that the exchange is focused on spot and futures markets at the moment, as well as trading of cryptocurrencies with high liquidity.

Lin said that the exchange is planning to offer trading of other digital assets, like securitized tokens in the future.

Dependent on licensing, they are also eyeing fiat-crypto trading services.

Why Did Atom Make a Move?

The Hong Kong authorities are tightening their grip on cryptocurrency exchanges.

In November last year, the local securities regulator said that it might start regulating crypto exchanges.

This move is considered important since institutional investors have started showing interest in the sector.

Institutional investors are betting that cryptocurrencies and its underlying blockchain technology will find many commercial uses in the future.

The increased enthusiasm is occurring despite the crypto bear market- where the prices of digital assets have steadily declined for almost a year.

LSEG Technology’s global head of sales and marketing, Lorne Chambers said in an interview that they are partnering with Atom but do not hold any stake in the company. Chambers said:

“Investors are demanding greater safeguards and Atom will be able to leverage the mainstream functionality that already exists.”

Atom Will Use London Stock Exchange’s Tech for Its Cryptocurrency Exchange was originally found on Cryptocurrency News | Blockchain News | Bitcoin News |

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange