Crypto trading platform LMAX is planning to go public or be sold, with an estimated valuation either up to or reaching $5 billion.

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Golden Finance reports that on July 24, institutional crypto trading platform LMAX Group is working with Morgan Stanley and investment bank KBW to evaluate strategic options, including a potential sale, a SPAC merger, and an IPO on Nasdaq or in Europe, with a potential valuation of up to about $5 billion. Insiders say the company is not in a rush to go public, and that its FX business helps support a weak crypto market. LMAX has accelerated expansion in recent years, launching a 24/7 multi-asset exchange supporting FX, digital assets, commodities, and tokenized securities, and in January this year it received a $150 million strategic investment from Ripple, intended to drive institutional adoption of the RLUSD stablecoin through its trading and settlement network.
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