Fintech

Crypto and FX firm LMAX valued at $1bn after JC Flowers stake

LMAX Digital is now the world’s second largest bitcoin exchange by volume, CEO says

J. Christopher Flowers CEO of J.C. Flowers & Co.
J. Christopher Flowers CEO of J.C. Flowers & Co. Photo: Tobias Schwarz/REUTERS

Cryptocurrency and FX exchange LMAX Group has received a valuation of $1bn, after selling a 30% stake in the company to US private equity group JC Flowers.

The deal was part of a secondary share sale that saw LMAX founder and chief executive David Mercer and members of senior management sell a portion of their existing shares in the business, for a total cash consideration of $300m.

WSJ Logo