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J.C. Flowers to acquire 30% stake in LMAX to accelerate growth in FX and crypto markets

Funding agency J.C. Flowers & Co. LLC is shopping for a 30% stake in LMAX Group to speed up progress in its FX and crypto belongings enterprise, the businesses stated Thursday. J.C. Flowers pays $300 million for the stake, valuing LMAX at $1 billion. London-based LMAX operates 5 exchanges that supply execution for FX and crypto trades. The corporate and J.C. Flowers see nice potential for the enterprise, significantly within the U.S. and Asia. “Over the past decade the Group has constructed a number one institutional FX change and in 2018 launched LMAX Digital which has grow to be the main institutional spot crypto forex change, serving over 500 institutional shoppers and is the second largest bitcoin change globally,” stated the assertion.

Source: Market Watch

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