City PM’s Crypto Insider speaks to Benjamin Dives and Adam Bryant of London Block Exchange
The London fintech scene has gone from strength to strength, with blockchain businesses spearheading this success. One of these companies has not only made a huge impact in less than a year, but has big ambitions going forward too. I spoke to CEO and founder Benjamin Dives alongside his Executive Chairman, Adam Bryant, to tell us about the only UK-dedicated crypto exchange, LBX.
“A year ago, Britons weren’t well served if they wanted to buy or sell crypto,” says Benjamin.
“Even those who understood crypto faced using exchanges that were expensive, offered a poor experience – or both. For example, Coinbase offers a good user experience but has high and obtuse fees and only offers a limited number of coins. Cheaper exchanges, with more coins are often hideously complex. Most exchanges require converting GBP to EUR or USD too – further compounding the expense.
We set out to change all this and we think we’ve done a great job and see ourselves as the natural choice for any UK crypto enthusiast. Being the only exchange to offer UK onshore banking also means our members don’t have issues withdrawing funds either.”
Chairman Adam Bryant, who comes from the traditional realm of managing hedge funds with the likes of UBS and Credit Suisse, added:
“We’ve done this as a grown up, safe pair of hands in the cryptocurrency space too. We use cutting edge KYC/AML technology and protocols to ensure we’re as hot on illicit activity as any bank, we use top-spec security software to prevent attacks and we’ve kept customer service as a top priority, with a UK-based team.
It’s been welcomed. Furthermore we know that not everyone coming to us is a crypto-expert, so through our ‘College of Crypto’ we offer a range of guidance for those new to the arena.” It seems that after landing in November last year, they’ve been successful, building a community of tens of thousands of users, but these plans are just the start.
Benjamin concluded: “We’ve added additional coins on a monthly basis, with 11 currencies available at the moment and more on the horizon. We’re also planning on creating our own token to offer members better value and added benefits, and will be sure to update City PM about this development in due course. We set out to democratise the crypto revolution for everyone and we’re not stopping anytime soon.
