LMAX Group and digital asset infrastructure provider Ripple have unveiled a strategic multi-year partnership, as part of an effort to drive forward the convergence of traditional financial and digital capital markets.
David Mercer
As part of the collaboration, Ripple is set to provide $150 million in debt financing, to bolster LMAX’s long-term growth across asset classes, and will see stablecoin Ripple USD (RLUSD) become a core collateral asset integrated into LMAX’s institutional trading infrastructure.
Moreover, the new offering is expected to enable LMAX’s clients across the world to make use of RLUSD’s cross-collateralisation and margin efficiency capabilities across their spot crypto, perpetual futures and CFD trading activities.
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“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,” said David Mercer, chief executive of LMAX Group.
Specifically, LMAX’s clients are expected to benefit from enhanced liquidity, margin efficiency, secure custody, institutional on-ramps and 24/7 cross-asset market access through the partnership.
The new offering also includes with the integration of LMAX’s digital assets exchange with multi-asset prime broker Ripple Prime, with the aim of providing a gateway for digital assets trading, without the challenges of market fragmentation and counterparty risk.
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Jack McDonald, senior vice president of stablecoins at Ripple, said: “Institutions are increasingly recognising the transformative potential of blockchain technology to modernise global financial market structure.
“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 news marks a further development in a string of significant news for Ripple in recent months. In April 2025, the firm became the first crypto business to own a global multi-asset prime broker, following its acquisition of Hidden Road in a deal valued at $1.25 billion.
The acquisition, once completed, will be one of the largest of its kind in the digital asset world.