June 9, 2026, 4:56PM EDT

LMAX CEO: Why Everything Will Be Tokenized

David Mercer, CEO at LMAX Group

Back to The Big Brain Podcast

Episode 12 of The Big Brain Podcast, hosted by The Block President Larry Cermak and MegaETH CSO Namik Muduroglu, was recorded with David Mercer, CEO of LMAX Group.

Listen below, and subscribe to The Big Brain Podcast on YouTubeApple, Spotify, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected]


In episode 12 of The Big Brain Podcast, Larry and Namik are joined by David Mercer, CEO of LMAX Group. The conversation explores stablecoins, collateral mobility, tokenized securities, institutional adoption, regulatory clarity and why Mercer believes tokenization could have an impact on capital markets similar to the rise of derivatives.

They also examine prediction markets, perpetuals and the growing role of banks in digital asset infrastructure.

OUTLINE
00:00 - Introduction
01:09 - LMAX Overview
05:29 - Stocks vs FX
08:23 - 24/7 Markets
11:03 - Omnia Strategy
17:05 - Institutional Future
23:21 - Adoption Reality
30:45 - Credit Markets
33:02 - Tokenization Debate
38:21 - Prediction Markets

GUEST LINKS
David Mercer - https://www.linkedin.com/in/mercerdavid/
LMAX Group - https://x.com/LMAX

HOST LINKS
Larry Cermak - https://x.com/lawmaster
Namik Muduroglu - https://x.com/NamikMuduroglu
The Block - https://x.com/TheBlockCo
The Block Pods - https://x.com/TheBlockPods

This episode of the Big Brain Podcast is brought to you by our sponsor,
Canton Network.


The Block Newsletters
The Block's newsletters bring you the latest news and analysis of the fast-moving crypto and DeFi markets. To subscribe, visit theblock.co/newsletters

Are you hiring in crypto?
Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test.
Faster hiring, stronger teams.

Sign up for a trial today: theblock.co/campus