The award-winning consultancy will design the app alongside a full cryptocurrency trading platform.
Due to launch in December, the LBX app offers full trading functionality and will include Sterling to crypto exchange across four major digital currencies (Bitcoin, Litecoin, Ripple and Ethereum) – with more added in the new year.
The trading platform will offer additional services including API access and margin trading from early 2018, catering to consumer or institutional investors alike.
The software will be secured by the same systems that protect the UK’s banking providers whilst delivering a user experience on a par with some of the leading financial apps available.
It will also enable LBX to operate under strict anti-money laundering guidelines, complying with all UK bank requirements.
The contract coincides with EY’s recent decision to expand its blockchain capability in Europe.
LBX Founder and CEO Benjamin Dives, said:
“EY-Seren is the perfect partner to help us to launch cryptocurrency exchange to the UK market, given their relevant experience working with some of Europe‘s largest and most forward-thinking banks and payment providers.“
Ben Rubin, who directed the LBX project for EY-Seren added:
“LBX is a step towards revolutionising the cryptocurrency market, with the app and exchange platform central to taking crypto from the digital dark ages to a fresh, new and customer-centric world.“
http://www.londonblockexchange.com went live on 15 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. The founders say this control of customer flow will enable them to scale a highly robust and secure service.
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 over $400).
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