Institutions can now utilise the asset for spot crypto and perpetual futures while maintaining secure custody through segregated wallets provided by LMAX Custody.
Driving institutional adoption of stablecoins
Ripple is providing US$150m in financing to support the long-term cross-asset growth strategy of the LMAX Group marketplace.
This financial commitment underscores a shared vision to build an on-chain financial ecosystem that facilitates frictionless settlement and value movement.
Jack McDonald, SVP of Stablecoins at Ripple, says: “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 five USD-backed stablecoin – within one of the largest and most sophisticated trading environments.”
The move follows a period of rapid expansion for the blockchain firm as it transitions from a payments provider to a full-stack infrastructure firm.
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