LMAX Group and Ripple have announced a strategic partnership aimed at integrating traditional financial markets and digital assets. The multi-year collaboration includes both technology integration and a financing arrangement.
Ripple will provide $150 million in financing to support LMAX’s long-term cross-asset growth strategy. No further financial terms were disclosed.
Last year, LMAX Digital listed RLUSD on its institutional trading platform, allowing clients to “now access RLUSD Stablecoin.” The move was an early step in integrating regulated stablecoins into the firm’s institutional infrastructure.
RLUSD Enables Cross-Asset Trading at LMAX
Under the partnership, LMAX will integrate RLUSD as a core collateral asset across its institutional trading Institutional Trading Institutional trading can be characterized as individuals or entities with the ability to invest in securities that are not available to retail traders directly.This includes specific investments such as FX forwards or swaps, among others.There are many types of players in the institutional trading space. These include central banks, retail and commercial banks, internet banks, credit unions, savings, and loan associations, investment banks, investment companies, brokerage firms, insurance compa Institutional trading can be characterized as individuals or entities with the ability to invest in securities that are not available to retail traders directly.This includes specific investments such as FX forwards or swaps, among others.There are many types of players in the institutional trading space. These include central banks, retail and commercial banks, internet banks, credit unions, savings, and loan associations, investment banks, investment companies, brokerage firms, insurance compa Read this Term infrastructure. The stablecoin will serve as collateral and a settlement currency for spot crypto, certain fiat pairs, perpetual futures, and CFD trading.
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Custody will be provided through LMAX Custody using segregated wallets to support transferability between traditional and digital assets.
The integration will be available to LMAX’s global institutional customer base, including banks, brokers, and buy-side firms.
David Mercer, Chief Executive Officer of LMAX Group, said, “Partnering with a leader like Ripple is a milestone for LMAX.” He added that “fiat-backed stablecoins will be a key catalyst in driving the convergence of TradFi and digital assets.”
Mercer also said LMAX believes “RLUSD is positioned at the forefront.”
LMAX Kiosk Enables 24/7 RLUSD Trading
LMAX Kiosk will allow institutional on-ramps, enabling clients to trade multiple FX and digital asset products using RLUSD as collateral. The companies said RLUSD will provide continuous, 24/7 cross-asset market access not available with traditional fiat currencies.
Jack McDonald, Senior Vice President of Stablecoins at Ripple, said, “Institutions are increasingly recognising the transformative potential of blockchain technology.” He added that the partnership will “accelerate the utilisation of RLUSD” in large trading environments.
LMAX Reports $8.2 Trillion Volumes
The collaboration also integrates LMAX Digital with Ripple Prime, Ripple’s multi-asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term prime brokerage service, providing institutions with a regulated exchange infrastructure combined with credit and brokerage services to reduce market fragmentation and counterparty risk.
Ripple holds more than 75 regulatory licenses globally. The announcement follows a record year for LMAX Group, which reported $8.2 trillion in institutional exchange volumes in 2025.
