LMAX Group, a cross-asset marketplace for FX and digital assets, and Ripple have partnered to accelerate the convergence of traditional and digital capital markets through stablecoin adoption and cross-asset mobility.
LMAX will integrate RLUSD as a core collateral asset across its trading infrastructure, enabling its global customer base of banks, brokers and buy-side institutions to use the stablecoin.
“With the benefit of greater US and global regulatory clarity, fiat-backed stablecoins will be a key catalyst in driving the convergence of traditional finance and digital assets, and we firmly believe RLUSD is positioned at the forefront,” said David Mercer, chief executive officer of LMAX Group.
“Partnering with a leader like Ripple is a milestone for LMAX, reflecting confidence and momentum in our cross-asset growth strategy.”
As part of the collaboration, Ripple will provide $150mn in financing to support LMAX’s long-term cross-asset growth strategy and the development of a more efficient on-chain financial ecosystem, according to LMAX.
Ripple will integrate its prime brokerage, Ripple Prime, with LMAX’s regulated digital assets exchange, giving institutions a streamlined gateway to trade crypto while reducing market fragmentation and counterparty risk.
“Institutions are increasingly recognising the transformative potential of blockchain technology to modernise global financial market structure,” said Jack McDonald, senior vice president of stablecoins at Ripple.
