Now known as Dragon Payments, LBX has long been reported to be in financial struggles and now, it’s been officially placed in compulsory liquidation by the U.K
The banking sector is slowly adapting and incorporating cryptocurrency onto their product portfolio. For example, the London Block Exchange (LBX) is introducing a new service that will give customers in the UK a banking option for both their fiat and their crypto assets.
Launched by London Block Exchange, the stablecoin will officially be known as LBXPeg. The currency will be tied to the value of the pound and backed by funds in an auditable UK bank account on a one-to-one basis.