Ripple, LMAX Group strike deal to expand institutional stablecoin use with $150 million in financing

Ripple and LMAX Group have established a multi-year strategic partnership, highlighted by a $150 million financing commitment from Ripple to support LMAX's cross-asset growth. Under the agreement, LMAX Group will integrate Ripple USD (RLUSD) as a primary collateral asset across its global institutional trading infrastructure, allowing firms to use the stablecoin for margin and settlement across various asset classes, including spot crypto and fiat crosses.

This collaboration positions RLUSD as a crucial bridge between traditional market infrastructure and on-chain settlement, addressing institutional demand for stablecoins as collateral alternatives offering 24/7 access. LMAX Group CEO David Mercer noted the deal reflects growing regulatory clarity and the potential role of fiat-backed stablecoins in market structure. Furthermore, the partnership includes integrating LMAX Digital with Ripple Prime, granting Ripple Prime clients access to LMAX's deep institutional liquidity for price discovery, aiming to reduce market fragmentation and counterparty risk.

(Source：The Block)