Another fiat-centric entity is embracing cryptocurrency. The UK fiat trading platform LMAX is getting in on the fun, launching an exchange designed for the growing market of institutional investors, Financial Times reported. The move is just the latest example of traditional finance companies giving a little ore legitimacy to the cryptocurrency space. In a statement about the new exchange, LMAX CEO David Mercer said, “We are furthering the legitimization of the crypto currency market by offering institutions a platform on which to acquire, trade and hold crypto currencies securely with high quality, deep liquidity,” noting that "the rise of institutional trading of cryptocurrencies will be a game-changer for the industry.” LMAX is regulated by the UK’s Financial Conduct Authority (FCA), and could expand into both New York and Tokyo down the road. The news comes after Coinbase, a U.S.-based cryptocurrency wallet provider and exchange, announced that it would be launching an entire suite of products geared toward institutional investors. Coinbase’s VP and general manager, Adam White, anticipates that institutional investments will soon explode, creating a $10-billion market. He recently told CNBC, “We think this can unlock $10 billion of institutional investor money sitting on the sideline. We’re seeing a rapid increase in attention awareness and adoption in the cryptocurrency market.” A number of companies are beginning to offer solutions for the investors with extremely deep pockets. The UK’s Crypto Facilities trading platform, also regulated by the FCA, launched what it calls the first regulated Ethereum futures contracts a little more than a week ago. In the U.S., the Gemini exchange and Goldman Sachs have shown interest in institutional investments, and will more than likely offer several solutions within the next several months. Last week, the owner of the New York Stock Exchange, ICE, announced that it would be settling crypto swap contracts in BTC. The move seemed to indicate that it had created a solution that met with the approval of the U.S. Securities and Exchange Commission (SEC) that was directed at institutional investors. The LMAX Exchange is a multilateral trading platform (MTF) for foreign exchange trading. It provides order-driven electronic trading and operates an infrastructure that links with matching engines in London, Tokyo and New York. The company was founded in 2010 and is now one of the major MTF exchanges for forex trading.