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LMAX Group has entered into a multi-year strategic partnership with Ripple to integrate Ripple USD (RLUSD) as a core collateral asset across its institutional trading infrastructure.
The collaboration will enable LMAX's global customer base, including banks, brokers and buy-side institutions, to use RLUSD for cross-collateralisation and margin efficiencies across spot crypto, perpetual futures and CFD trading.
As part of the agreement, Ripple will provide $150 million in financing to support LMAX's cross-asset growth strategy.
David Mercer, Chief Executive Officer, LMAX Group
David Mercer, Chief Executive Officer, LMAX Group said: "Partnering with a leader like Ripple is a milestone for LMAX, reflecting confidence and momentum in our cross-asset growth strategy. With the benefit of greater US and global regulatory clarity, fiat-backed stablecoins will be a key catalyst in driving the convergence of TradFi and digital assets and we firmly believe that RLUSD is positioned at the forefront. 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."
The integration will allow RLUSD to serve as collateral and as a settlement currency for spot crypto trading and fiat crosses. Clients will be able to utilise RLUSD as margin funding for perpetual futures and CFD trading.
RLUSD holdings will be accessible via LMAX Custody using segregated wallets. LMAX Kiosk will enable institutional on-ramps, allowing clients to trade multiple FX and digital products using RLUSD collateral.
Jack McDonald, SVP of Stablecoins, Ripple
Jack McDonald, SVP of Stablecoins, Ripple said: "Institutions are increasingly recognising the transformative potential of blockchain technology to modernise global financial market structure. LMAX has long been a leader in providing the transparent, regulated infrastructure that institutional players require. This partnership will accelerate the utilisation of RLUSD—already a top 5 USD-backed stablecoin—within one of the largest and most sophisticated trading environments."
The partnership includes integration of LMAX's digital assets exchange with multi-asset prime broker Ripple Prime. Ripple Prime customers can now leverage LMAX Digital as a primary price discovery venue to trade and hold digital assets.
Ripple holds 75 regulatory licenses and registrations globally. LMAX Group reported $8.2 trillion in institutional exchange volumes in 2025.
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