Summary
- Ripple said it will invest $150 million in UK crypto financial firm LMAX Group.
- Ripple said the strategic partnership will integrate its stablecoin RLUSD into global institutional trading infrastructure.
- Ripple said institutional investors are showing greater interest in blockchain infrastructure to modernize finance and in RLUSD usage within LMAX’s exchange infrastructure.
Forecast Trend Report by Period
Ripple, the issuer of XRP, will invest $150 million (about 220 billion won) in UK crypto financial firm LMAX Group.
According to The Block on the 15th (local time), Ripple announced that it had signed a strategic partnership with LMAX that day. Under the partnership, Ripple will invest $150 million to support LMAX’s growth strategy.
On the back of the partnership, LMAX plans to integrate Ripple’s stablecoin, RLUSD, into global institutional trading infrastructure. The Block reported that “institutional investors are considering stablecoins instead of fiat currencies for collateral mobility and 24/7 access,” adding that “RLUSD will serve as a bridge linking existing market infrastructure with on-chain payments.”
Use of RLUSD is also expected to expand on LMAX, LMAX Group’s crypto exchange. Jack McDonald, Ripple’s senior vice president for stablecoins, said, “Institutional investors are showing increasing interest in blockchain infrastructure to modernize finance,” adding that “use of RLUSD within LMAX’s exchange infrastructure will accelerate.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
