CoinDesk reports:

Foreign media report that as the digital assets market matures, the future infrastructure of the crypto industry may become more akin to traditional financial markets rather than continuing to emphasize decentralization alone. David Mercer, CEO of LMAX Group, told CoinDesk that for the industry to attract larger volumes of institutional capital, it must address long-neglected areas such as credit, clearing, and collateral management.

Centralization first addresses liquidity.

Mercer believes that centralized market structures first address the issue of liquidity coordination. By concentrating buyers and sellers in a single market, it becomes easier to develop deeper liquidity and more transparent price discovery. Even in…