Ripple committed $150 million in financing to LMAX Group as part of a multi-year partnership that embeds the company's RLUSD stablecoin across one of the world's largest institutional trading venues.
The deal announced Thursday positions RLUSD as core collateral for banks, brokers, and buy-side institutions trading spot crypto, perpetual futures, and CFDs on LMAX's platform.
LMAX Group, which processed $8.2 trillion in institutional exchange volumes in 2025, will enable clients to use RLUSD for margin funding and 24/7 cross-asset settlement not available with traditional fiat currencies.
What Ripple Gets
The partnership gives RLUSD - launched in December 2024 - direct access to LMAX's global customer base across major trading centers in London, New York, Tokyo, and Singapore.
RLUSD currently ranks among the top 10 USD-pegged stablecoins with approximately $1.3 billion in market capitalization, according to recent market data.
The stablecoin will be available through LMAX Custody using segregated wallets, allowing institutions to move collateral across traditional and digital asset classes.
LMAX CEO David Mercer cited growing U.S. and global regulatory clarity as driving institutional adoption of fiat-backed stablecoins for cross-border settlement and margin efficiency.
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Infrastructure Integration
The collaboration connects LMAX Digital's exchange infrastructure with Ripple Prime, the company's multi-asset prime brokerage service for institutional clients.
Ripple Prime customers can now access LMAX's liquidity and price discovery mechanisms for trading and securely holding digital assets.
Jack McDonald, Ripple's senior vice president of stablecoins, said institutions are increasingly recognizing blockchain technology's potential to modernize financial market structure.
The financing arrangement underscores Ripple's push to accelerate convergence between traditional finance and digital asset markets through compliant infrastructure.
Ripple holds more than 75 regulatory licenses globally and operates under New York Department of Financial Services supervision for RLUSD issuance.
LMAX initially listed RLUSD on its institutional trading platform in 2025 before expanding integration across its full product suite.
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