Ripple has announced a long-term partnership with LMAX Group, backed by a $150 million investment, to expand institutional use of its stablecoin, Ripple USD (RLUSD). The news comes as the broader crypto market showed mild weakness during the week.
Under the partnership, RLUSD will be used as a key collateral asset within LMAX Group’s institutional trading systems. Banks, brokers and professional investors will be able to use the stablecoin for margin and settlement across different asset classes.
Ripple said RLUSD will be backed by a mix of crypto assets, derivatives and select fiat instruments. The setup aims to connect traditional trading infrastructure with blockchain-based settlement more closely.
RLUSD will also be supported by LMAX Custody, which will hold client assets in segregated wallets. Ripple executives said institutions are increasingly looking for reliable blockchain tools, and this partnership will help bring regulated, on-chain settlement deeper into professional trading markets.
You need to login in order to Like
Leave a comment