LBX, London Block Exchange, announces the release of a new cryptocurrency payment account known as, LBXPay which caters to the business sector. The service will be offered to those who are involved in the cryptocurrency market such as ICOs, traders and funds. The service will provide access to accounts wherein the user can store, transfer and manage their fiat currency and crypto holdings.
The service enables the user to convert holdings from fiat and cryptocurrency without having to move funds between accounts or service providers. It is a boon to the clients as one can manage all balances, trade and payments including those to third parties.
LBX service encourages the crypto traders to manage their holdings without any fear. The user can manage one’s account with confidence as their account will not be in jeopardy for dealing in the cryptocurrency market. The service is flexible and those, with greater volumes and demands, they have access to LBX’s OTC desk and from Q1 2019, access to an API linked directly to their account.
Many economists believe that trading in cryptocurrency can pose a major threat to the economy. The stigma still persists in the traditional banking sector that the concept of cryptocurrency will promote illegitimate activities. This belief has created issues for traders who wish to trade in cryptocurrency as banks are not willing to provide any assistance, mentioned in the blog by LBX.
LBXPay will resolve the issue and will encourage cryptocurrency traders to manage their dealings. All fiat holdings in LBXPay accounts will be held in segregated bank accounts, each with a dedicated IBAN and a monthly statement service. All cryptocurrency holdings will be kept securely in cold storage, as reported in Bitcoin News. As LBX provides a credible, safe and easy exchange for consumers and institutional investors, it is a luxury to the traders who are dealing in the crypto market.
The post LBX Provides Banking Solutions To UK’s Cryptocurrency Companies In Market appeared first on OWLT Market.
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