Cross-asset marketplace for FX and digital assets, LMAX Group, along with Ripple, a FinTech company offering institutional crypto solutions, have announced a partnership intended to accelerate the fusion of both traditional and digital capital markets.
LMAX, as part of the collaboration, will integrate Ripple’s USD-pegged stablecoin, RLUSD, as a central collateral asset across its institutional trading infrastructure.
LMAX’s clientele — including banks, brokers, and buy-side institutions — will be able to leverage RLUSD for both enhanced cross-collateralisation and margin efficiencies, within spot crypto, perpetual futures, and CFD Trading.
Ripple will provide LMAX with US$150 million in financing intended to support the company’s long-term cross-asset growth strategy.
David Mercer, CEO of LMAX, sees the collaboration as a “milestone for LMAX, reflecting confidence and momentum in our cross-asset growth strategy”.
He adds: “We are thrilled to partner with the forward-looking leadership team at Ripple as together we develop a modern financial ecosystem and the complete cross-asset marketplace for institutions globally.”
Commenting on the collaboration, senior vice president of stablecoins at Ripple, Jack McDonald, says: “The partnership will accelerate the utilisation of RLUSD — already a top 5 USD-backed stablecoin — within one of the largest and most sophisticated trading environments.”
LMAX’s digital assets exchange will be integrated with multi-asset prime broker Ripple Prime, in a bid to provide institutions with a gateway to trade digital assets and address market fragmentation, alongside counterparty risk.
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