London metal exchange GFG has announced plans to open a second Bitcoin exchange.
The announcement comes as part of a series of changes to the exchange’s trading platforms that will be rolled out by the end of June.
“We are excited to announce the launch of a new Bitcoin exchange for trading metal in London,” said Paul Goss, Chief Executive Officer of GFG.
“GFG is delighted to be working with the world’s leading metal exchange to bring this innovative new service to our customers.”
“We believe that trading metal is a valuable and essential service for the market.
We are thrilled to be able to introduce our new Bitcoin Exchange to the market and look forward to further investments in our new exchange platform.”
A spokesperson for the exchange declined to comment further.
The launch of the new exchange will mark a significant milestone for the London metal market, with many metal traders in the capital seeing the rise of the digital currency as a potential way to diversify their investment portfolio.
“With our launch of GGSX, we aim to provide the most secure, transparent and efficient service available for our clients,” said Ian Smith, Chief Commercial Officer at GFG, in a statement.
“As we are proud to be one of the first metal exchanges in the world to launch a Bitcoin exchange, we look forward with great optimism to continuing to serve our customers and offer the highest level of customer service.”
GGSG is one of several London metal exchanges to launch Bitcoin trading services, including one called GGSEX.
GGSEx is one part of the London Metal Exchange network, which is expected to grow to over 40 exchanges in 2018.
US economic growth accelerated to 2.5% in November, a far cry from the dismal 3.5%, according to the latest report from the Bureau of Labor Statistics.
The agency also reported that the unemployment rate fell below 1.3 million for the first time since December 2012.
The rate was down from 2.6% in October and a more than 10% drop from October’s record low.
The report also showed that employment grew by 5,000 jobs, a rebound from a 1.4% increase in November.
The Bureau of Economic Analysis reported Friday that manufacturing, which has been one of the strongest sectors of the economy, increased at a 0.6%.
That’s the fastest pace of growth since December of 2013.
The biggest gainers were the services sector, which increased by 2,500 jobs, and health care, which rose by 7,300 jobs.
The economy added an estimated 3.9 million jobs in November compared to the previous month.
The unemployment rate dropped to 1.2 million in November from 2 million in October.
US stocks rose Thursday after President Donald Trump declared a nationwide national emergency for the third time in four months.
Shares in Caterpillar Inc. surged more than 1% to $9.80, the highest close in more than four years.
Giant chipmaker Intel Corp. surged 1.5%.
The Nasdaq composite rose 0.3%.