From Space Exploration to Exploring the Crypto Space: Former SpaceX Engineer Launches Cryptocurrency Exchange

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Hawthorne, California, USA - February 20, 2018 Aerial view of the SPACEX headquarters and rocket manufacturing building. Source: shutterstock.com

The cryptocurrency industry has been shaking up the job market lately. There has been a noted increase of top-level executives from banks and financial institutions such as Deutsche Bank, JPMorgan and Goldman Sachs leaving their traditional posts for exciting new career paths in the crypto scene, according to a Medium report.

But apparently, cryptocurrency’s allure is not only restricted to workers from the financial sector. Even professionals from the space industry are not totally immune to its charm as a former engineer from Elon Musk’s aerospace company SpaceX was bitten by the crypto bug and entered the industry with a big splash — by setting up his own crypto exchange.

LXDX Launches Crypto Exchange in Malta

LXDX will be launching a new institutional-grade cryptocurrency exchange, according to a report by LeapRate. The company is headed by its CEO, Joshua Greenwald, a former engineer of Elon Musk’s SpaceX.

In its site, LXDX promises to offer top-of-the-line services to its clients. According to its chief operating officer, Will Roman, existing digital exchanges are a bit lacking regarding the quality of service, which could be hindering the entry of some institutional players. As explained by Roman:

“Lack of access to liquidity plagues existing cryptocurrency exchanges. Substandard order matching times, inadequate security protocols, and market fragmentation drive institutions away from exchanges and to over-the-counter venues.”

LXDX cryptocurrency exchange will be put up in Malta, according to a report by OpenLedger DEX. This is hardly a surprising move as Malta is now known as the world’s Blockchain Island, after being the first country to pass distributed ledger technology regulations, cementing its position as one of the top crypto-friendly destinations in the world. Given its favorable business climate, Malta has successfully lured top exchanges such as Binance, OKEx, and ZB.com.

Institutional Grade Trading Platform

LXDX aims to distinguish itself from the competition by bringing into the crypto industry the same level of technology currently being used in traditional markets. As Greenwald puts it, the firm’s mission is to make the crypto market better, saying:

“The mission of LXDX is to make capital markets better. 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. When we built top-tier infrastructure for traditional markets, our team solved many of the same problems facing cryptocurrency exchanges today. We are excited to bring a higher caliber of technology to cryptocurrency investors everywhere.”

Among the advantages to be offered by the platform is the capability for high-frequency trading with full order lifecycle latencies of 50 microseconds. Platform reliability is assured by the use of fully redundant, chaos-tested systems that employ custom hardware and colocation. Security is vastly improved by multilayer secure cold storage, full compliance with Know-Your-Customer and antimoney laundering policies, and industry-standard market surveillance.

Crypto Industry Continues to Lure Talents

Who would have imagined that after leaving SpaceX, Greenwald would end up in the cryptocurrency sector, an industry that has nothing to do with space? His case is not an isolated one, though, as the industry continues to lure in top talents from other fields.

Among the high-profile transfers is Emilie Choi, a former LinkedIn executive. She left her head of mergers and acquisitions post at the professional networking platform to join crypto exchange Coinbase as its vice president of corporate and business development.

Another LinkedIn executive, Michael Li, has recently left the company to join Coinbase, according to TechCrunch. Li joins the crypto exchange platform as its VP of data.

From Space Exploration to Exploring the Crypto Space: Former SpaceX Engineer Launches Cryptocurrency Exchange was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.

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