Loopring was founded by Daniel Wang, a software engineer and entrepreneur based in Shanghai, China. Wang has held multiple managerial and executive positions in major tech companies, including Google and the Chinese e-commerce giant JD.com. He has also co-founded several companies, including the cryptocurrency services firm Coinport Technology Ltd. The LRC tokens were first made available to the public during an initial coin offering (ICO) in August 2017. The Loopring protocol was first deployed on Ethereum mainnet in December 2019. Since its inception, Loopring has been aiming to improve the cryptocurrency trading experience by combining aspects of both centralized and decentralized exchanges.