# New crypto card and exchange to launch for London market Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-11-16 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: London Block Exchange Launches Groundbreaking Cryptocurrency Card Meta Description: TheLondon Block Exchange (LBX) enables UK consumers to use Bitcoin, Ethereum, Ripple, Litecoin & Monero in local shops through a secure cryptocurrency URL: https://financedigest.com/new-crypto-card-and-exchange-to-launch-for-london-markethtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd161117-5-1736843253985-compressed.jpg) _UK consumers will soon be able to spend cryptocurrencies such as Bitcoin in their local supermarket with a unique new cryptocurrency card._ The card is powered by a new cryptocurrency exchange – _TheLondon Block Exchange (LBX)_ – based in London and dedicated to the UK market. It is the first to offer Sterling to Crypto exchange across a broad range of digital currencies. The platform will enable private and institutional [investors to buy and sell cryptocurrencies using an intuitive and simple smartphone app and trading](https://www.financedigest.com/how-to-begin-investor-trading-in-australia.html "How to begin investor trading in Australia") interface. Users will also be able to use a linked Visa card to [spend](https://www.financedigest.com/card-spending-in-uk-falls-below-pre-covid-average-ons.html "Card spending in UK falls below pre-COVID average – ONS") crypto anywhere that card payments are accepted. The LBX Dragoncard will be able to immediately perform a trade on the [exchange and convert cryptocurrency](https://www.financedigest.com/verasity-vra-lists-on-tier-1-cryptocurrency-exchange-crypto-com.html "Verasity $VRA Lists on Tier-1 Cryptocurrency Exchange Crypto.com") into traditional funds in order to instantly purchase goods. _“If a shop accepts Visa, it now accepts Bitcoin, Ethereum, Litecoin or Ripple,”_ said LBX Founder and CEO Benjamin Dives. He said that the opening of a London exchange was a response to [growing demand from consumers](https://www.financedigest.com/demand-for-automotive-radiator-market-driven-by-shifting-consumer-perceptions-and-growing-awareness.html "Demand for Automotive Radiator Market Driven by Shifting Consumer Perceptions and Growing Awareness") and institutions crying out for a professional and secure exchange. _“Despite being the financial capital of the world, London is a difficult place for [investors to enter and trade in the cryptocurrency market](https://www.financedigest.com/markets-slammed-with-noise-investors-trust-tone-to-set-the-record-straight.html "Markets Slammed With Noise, Investors Trust Tone to Set the Record Straight"). We’ll bring it into the mainstream by removing the barriers to access, and by helping people understand and have [confidence in what we believe](https://www.financedigest.com/go-for-it-think-positive-believe-in-yourself-and-do-what-you-love-says-dawn-elliott-of-sew-confident-chorley.html "“Go for it, think positive, believe in yourself and do what you love” says Dawn Elliott of Sew Confident Chorley") is the future of money.”_ The exchange web site – [www.londonblockexchange.com](http://www.londonblockexchange.com) – went live today for public pre-registrations, while institutional investors will be added by private invitation. The trading platform will operate with a select [number of institutions until 4th December](https://www.financedigest.com/uks-december-shopper-numbers-defy-inflation-and-rail-strikes-hit.html "UK’s December shopper numbers defy inflation and rail strikes hit"), when it will opened more widely to the public. The founders say this control of customer flow will enable them to scale a highly robust and [secure service](https://www.financedigest.com/balancing-innovation-and-security-within-the-financial-services-industry.html "Balancing innovation and security within the financial services industry"). Whilst the exchange’s founders include cryptocurrency experts, its Executive Chairman, Adam Bryant is from traditional financial services, having run the macro hedge [fund team for Credit Suisse](https://www.financedigest.com/credit-suisse-to-repay-further-750-million-to-greensill-linked-fund-investors.html "Credit Suisse to repay further 0 million to Greensill-linked fund investors") and then UBS. Cryptocurrencies are the fastest growing asset class in history, and despite scepticism from some [banks and governments around the world](https://www.financedigest.com/world-bank-scrapping-ease-of-doing-business-index-is-a-reminder-to-focus-on-fundamentals.html "World Bank scrapping Ease of Doing Business Index is a reminder to focus on fundamentals"), have seen huge gains. For example, Ethereum has risen [nearly 30-fold since](https://www.financedigest.com/dollar-steadies-near-16-week-low-yuan-set-for-biggest-weekly-gain-since-2005.html "Dollar steadies near 16-week low, yuan set for biggest weekly gain since 2005") January (from around $10 to $300). LBX will launch with five digital currencies – Bitcoin, Ethereum, Ripple, Litecoin and Monero. Additional credible cryptocurrencies will be added each month. The platform and associated app is secured by the same systems that protect the UK’s banking system whilst delivering a user experience on a par with some of the leading financial apps available. LBX is governed by strict [anti-money laundering](https://www.financedigest.com/anti-money-laundering-time-to-take-a-new-approach.html "ANTI-MONEY LAUNDERING: TIME TO TAKE A NEW APPROACH?") guidelines, complying with all UK bank requirements. As well as trading functions, LBX will also launch with a host of educational material (LBX University) along with daily [market news from experts offering insight](https://www.financedigest.com/air-separation-plant-market-to-register-5-cagr-driven-by-surging-demand-for-nitrogen-gas-within-food-beverage-sector-future-market-insights.html "Air Separation Plant Market to Register 5% CAGR Driven by Surging Demand for Nitrogen Gas within Food & Beverage Sector: Future Market Insights") for anyone from the ‘crypto-curious’ to the ‘crypto-confident’. LBX Chairman Bryant added: “Cryptocurrency has [come of age](https://www.financedigest.com/constructive-digitization-to-let-the-tissue-diagnostic-market-come-of-age.html "Constructive digitization to let the Tissue Diagnostic Market come of age") with LBX. We’re [offering a grown up and robust experience for those who wish to safely and easily understand and invest in digital](https://www.financedigest.com/digitization-to-offer-stewardship-to-the-robotic-surgery-market.html "Digitization to offer stewardship to the Robotic Surgery Market") currencies. We’re confident we’ll transform this market in the UK and will become the leading cryptocurrency and blockchain consultancy for institutional investors and [consumers](https://www.financedigest.com/slow-refunds-hurt-consumers-and-brands-alike.html "Slow refunds hurt consumers and brands alike") alike.” --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---