Ripple Partners with LMAX Group, Invests $150M to Boost RLUSD Adoption
- Ripple is trading above the $2.08 support level despite a market downturn.
- The partnership with LMAX Group includes a $150 million financing commitment from Ripple.
- Ripple USD (RLUSD) will be utilized as collateral in LMAX’s institutional FX trading infrastructure.
- Collateral backing for RLUSD includes spot cryptos, perpetual futures, CFDs, and fiat crosses.
- US-listed XRP ETFs saw nearly $11 million in inflows on Wednesday, totaling cumulative inflows of $1.26 billion.
This strategic partnership aims to enhance institutional adoption of blockchain-based infrastructure through RLUSD, facilitating margin and settlement processes for banks and brokers. The collaboration also integrates LMAX Digital with Ripple Prime for improved liquidity access.
With Ripple’s investment of $150 million, the partnership is set to accelerate the use of RLUSD across various asset classes on the LMAX platform.(Source)
