Institutional crypto exchange LMAX Digital closed out its second year by 10x-ing its trade volumes, trading $75 billion worth of crypto in the past 12 months, the firm revealed exclusively to The Block.Since its launch two years ago, the firm has facilitated $85 billion in trades, according to a Tuesday press release. Last year's monthly high was $8.6 billion traded in June of 2019, and that month saw the firm's daily record high on June 27, when $1.25 billion was traded on the exchange. CEO of LMAX Group David Mercer said the firm has become the primary price discovery venue, having grown to command a sizable portion of the spot cryptocurrency market. Still, the firm's growth has stagnated recently and the size of its market is still dwarfed by retail-aimed exchanges like Binance and Coinbase. Now, with two years of growth under its belt, the firm is looking to expand its reach. Mercer told The Block that the firm is looking to add its trade and market data to more leading market reference indices, as well as expand its product portfolio with the growth of the asset class. In a recently recorded episode of The Scoop, Mercer discussed the firm's recent growth and what it's been like to operate a digital asset exchange in the midst of the ongoing financial and health crisis. The Block's Frank Chaparro and Mercer also explore: How the firm coped with rising volatility and maintained liquidity on its venue in the midst of whipsawing crypto markets The differences between how traditional markets have held up during the COVID-19 crisis relative to crypto  Why LMAX needs more asset managers, fund managers to get involved in crypto for it to go head to head with retail exchanges What traditional markets can learn from crypto  Why banks may not care about crypto yet, but their customers are asking questions This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!