SpaceX engineer to open crypto exchange in Malta
A Former SpaceX engineer is set to launch a cryptocurrency exchange in Malta following an announcement by his new firm LXDX.
Previously engaged in Elon Musk’s automation and propulsion division, Joshua Greenwald has since turned his attention to high-level cryptocurrency trading.
While already working closely with institutional investors, Greenwald’s newly announced venture seeks to tap into the mainstream consumer market.
Institutional investment on the horizon
A quote from Leaprate has him saying: “Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access.”
LXDX received financial support from several investors back in August, chief among which was Dymon Asia Venture Capital Fund, secured before the firm confirmed its move to Malta last week.
The revelation comes as traditional institutional investments into the budding space become an important avenue for financial heavyweights. Rumours about Citigroup and Morgan Stanley offering more exposure to Bitcoin continue to circulate, which lends credence to those who cite the looming tidal wave of cash injections on the horizon as a major reason to get in on the crypto bandwagon.
“Cryptocurrencies are a wholly new asset class,” Greenwald told Venturebeat after announcing the August funding round.