Brit-Coin Bonanza: UK Heads to Cryptomarket

LONDON, November 30, 2017 /PRNewswire/ --

The meteoric rise in the value of the cryptocurrency Bitcoin has sent the UK rushing to enter the market.

The London Block Exchange, which opens its doors to the public in December has seen a five-fold increase in trading account sign-ups since Bitcoin hit the $10,000 mark.

Several other digital currencies have also seen huge surges, such as Ethereum, Iota and Dash.

CEO and founder Benjamin Dives said:

"Bitcoin is now Britcoin as the UK crypto-curious flood to the market. Our secure and easy to use exchange has attracted over 5,000 waiting list sign-ups in a matter of days.  

"And while it's Bitcoin hitting the headlines, we believe the real area for growth and excitement lies not just in cryptocurrency but in applications of the underlying blockchain technology. So watch this space." 

http://www.londonblockexchange.com launched on 15^th November for public pre-registrations, while institutional investors are being added by private invitation. The trading platform will operate with a select number of institutions until mid December, when it will open more widely to the public.

LBX will launch with four digital currencies - Bitcoin, Ethereum, Ripple and Litecoin. Additional credible cryptocurrencies will be added each month.

Cryptocurrencies are the fastest growing asset class in history, and despite scepticism from some banks and governments around the world, have seen huge gains. For example, Ethereum has risen nearly 40-fold since January (from around $10 to $440) and Bitcoin has garnered huge attention since breaking the $10,000 barrier this week.

The platform and associated app is secured by the same systems that protect the UK's banking system whilst delivering a user experience on a par with some of the leading financial apps available. LBX is governed by strict anti-money laundering guidelines, complying with all UK bank requirements.

As well as trading functions, LBX will also launch with a host of educational material (LBX University) along with daily market news from experts offering insight for anyone from the 'crypto-curious' to the 'crypto-confident'.

About LBX

The London Block Exchange is the first multi-cryptocurrency exchange dedicated to the UK market. Based in Canary Wharf, LBX provides a credible, safe and easy exchange for consumers and institutional investors - delivered via its online platform and app.

This is underpinned by educational content, bank-grade security and solid governance, with four cryptocurrencies currently available for trade with more added each month. LBX is currently in the process of applying for its FCA Electronic Money Institution licence. For more information visit londonblockexchange.com.