Bringing you live news and features since 2006 


New sterling-to-crypto exchange and payment card launch


UK consumers will soon be able to spend cryptocurrencies such as Bitcoin in their local supermarket with a unique new cryptocurrency card.

The LBX Dragoncard is powered by a new cryptocurrency exchange – The London 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 interface. Users will also be able to use a linked Visa card to spend crypto anywhere that card payments are accepted.
The LBX Dragoncard will be able to immediately perform a trade on the exchange and convert cryptocurrency into traditional funds in order to instantly purchase goods.
“If a shop accepts Visa, it now accepts Bitcoin, Ethereum, Litecoin or Ripple,” says LBX Founder and CEO Benjamin Dives.
He said that the opening of a London exchange was a response to growing demand from consumers 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. 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 is the future of money.”
The exchange web site,, is now live 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 4 December, 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.
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 and then UBS.
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 30-fold since January (from around USD10 to USD300).
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 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 for anyone from the ‘crypto-curious’ to the ‘crypto-confident’.
LBX Chairman Bryant added: “Cryptocurrency has 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 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 alike.”

Latest News

Amundi’s ETF Market Flows Analysis for May finds that global ETF inflows were EUR105.1 billion with US-domiciled equity funds accounting..
MerQube has announced the appointment of Dave Mueller as Chief Financial Officer. Mueller brings 17 years experience operating in corporate..
Northern Trust Asset Management (NTAM), has announced that David Abner is joining as Head of Global ETFs and Funds...
Nvidia’s market cap surge to more than USD3 trillion making it the second most valuable company in the world almost..

Related Articles

Darren Johnson, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Stuart Chaussee
In January this year, global data and business intelligence platform, Statista reported that there are now more than 8000 ETFs...
Ethereum coin
Last week saw Australia launch spot bitcoin ETFs, with Matteo Greco, Research Analyst at Fineqia International, writing that Monochrome Asset...
Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by