Ripple and LMAX have entered into an official agreement for scaling operations.
The two financial and crypto companies have agreed to support each others services, with the RLUSD stablecoin being gradually utilised for better trading liquidity. This is particularly useful for spot margins and fund transfers across crypto, FX and other financial settlements.
CEO David Mercer of LMAX Group expressed:
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.”
With LMAX services growing over the last few years, the investment is relevant. Ripple is also focused on expanding its institutional strategy, having also partnered up with BlackRock and Securitize to employ the use of its RLUSD stablecoin for collateral.
Ripple’s Licenses And RLUSD Stablecoin Growth
Recently, Ripple has been heavily progressing through its global and regional regulatory licensing efforts. In the span of a few weeks, the digital asset group has announced a myriad of regional licensing wins including the ADGM and DFSA in the UAE and FCA in the UK.
Additionally, with recent Ripple acquisitions of decade-old firms such as Hidden Road and GTreasury, the RLUSD stablecoin trading volume increase has been evident. The focus is here is to become the institutional stablecoin settlement asset for all clearing purposes.
According to DeFiLlama, Ripple RLUSD stablecoin volume sits at $1.385B at the time of writing having quickly moved past RLUSD $1B supply mark last November. This is split between top stablecoin network adopters Ethereum (75.96%) and XRP Ledger (24.04%).
LMAX Digital and LMAX Exchange Group
The LMAX group performed well in 2024. According to a published report covering its annual financial results, LMAX broker and exchange services outperformed returns in previous years.
LMAX achieved a record 26% growth profits coming in at $190M – a 163% increase from only two years prior. Also, total trading volumes peaked at $6.5T.
