OpenPayd and LMAX Partner to Accelerate Cross-Asset FX and Digital Settlement

• A recent integration between LMAX and Ripple for the settlement of RLUSD stablecoins serves as the foundation for this relationship.
• Settlement infrastructure has become an essential point of convergence as a result of the growing support for numerous asset classes by institutional trading venues.

A cooperation between OpenPayd, a leading provider of financial infrastructure, and LMAX Group (“LMAX”), the largest worldwide cross-asset marketplace for foreign exchange and digital assets, has been announced. The purpose of this agreement is to improve settlement efficiency throughout OpenPayd’s global operations.

The relationship allows LMAX to settle foreign exchange trades in GBP, EUR, and USD by using OpenPayd’s infrastructure. This enables LMAX to facilitate more efficient post-trade settlement across all of its institutional foreign exchange operations. In order to support other foreign exchange rails inside its digital asset platforms, LMAX is increasing the currency offering beyond the fiat currency that was discussed before. Additionally, the integration makes it possible for LMAX to better match settlement timeframes with the real-time nature of foreign exchange trading, hence decreasing settlement windows from days to hours.

At a time when trading venues are increasingly operating across both conventional and digital markets, the ability to conduct settlement in a uniform manner across different asset types has become an increasingly important objective.

A recent integration between LMAX and Ripple for the settlement of RLUSD stablecoins serves as the foundation for this relationship. As a result of Ripple’s enterprise payment flows now working on OpenPayd’s infrastructure, LMAX is now able to handle both fiat settlement via OpenPayd and stablecoin settlement through Ripple within a linked ecosystem.

Because of this, LMAX is able to simplify the settlement process across both conventional currencies and digital assets without adding any extra layers of complexity.

LMAX operates in very high-volume markets that are sensitive to latency and where settlement certainty is of the utmost importance. The architecture of OpenPayd contributes to the fulfillment of this need by offering a single settlement environment that lessens the amount of friction that occurs during operations and enables effective liquidity management across currencies. Through the process of strengthening the venue’s underlying settlement procedures, the cooperation enhances the speed and predictability of settlement for foreign exchange and CFD trading activity that is performed on LMAX.

Settlement infrastructure has become an essential point of convergence as a result of the growing support for numerous asset classes by institutional trading venues. These asset classes include foreign exchange, CFDs, and digital assets. This transition is reflected in the partnership between OpenPayd and LMAX, which provides a settlement framework that is intended to accommodate trading activity across many assets while preserving the stability and control that is necessary in institutional markets.

Jenna Wright, Managing Director, Digital Assets, LMAX Group, said:

Iana Dimitrova, Chief Executive Officer at OpenPayd, said:

She added:

The LMAX Group is a major global cross-asset marketplace that is using trusted technology to support the merger of conventional and digital forms of finance. Through its seamless, transparent, and regulated infrastructure, LMAX links the world’s biggest and most recent asset classes. It does this by operating several institutional execution venues and offering access to custody and market data services for foreign exchange and digital assets.

There are three companies that are part of the Group’s portfolio: LMAX Exchange, which is an institutional foreign exchange, FCA-regulated MTF, and MAS-regulated RMO; LMAX Global, which is a broker regulated by both FCA and CySEC; and LMAX Digital, which is a GFSC-licensed execution venue and custodian. LMAX develops, builds, and manages its own high-performance, ultra-low latency exchange technology. It provides services to funds, banks, brokerages, and buy-side institutions in over one hundred countries. LMAX also has matching engines located in London, New York, Tokyo, and Singapore. LMAX offers the reliable basis on which the operations of the future generation of global markets will be carried out by combining its extensive knowledge in foreign exchange with the development of digital assets.

Through its work, OpenPayd is building the universal financial infrastructure that will support the digital economy. Using a single, sophisticated application programming interface (API), its rails-agnostic platform lets organizations to transfer and manage money on a worldwide scale, including both fiat currency and digital assets. In order to facilitate interoperability between conventional financial systems and digital assets, OpenPayd offers a variety of services, including embedded accounts, foreign exchange, local and international payments, Open Banking, and stablecoin on/off ramps. With one of the most extensive financial networks now available on the market, OpenPayd makes it possible to shift money in real time, regardless of where you are.

In addition to being trusted by worldwide companies like as eToro, Kraken, OKX, and B2C2, they handle yearly volumes which amount to more than 180 billion dollars for more than one thousand firms. In the future generation of financial services, OpenPayd serves as the infrastructure layer that allows for their operation.