LMAX2026-07-24 14:40:00LMAX weighs sale, SPAC merger or IPO after $150 million Ripple investmentInstitutional trading platform LMAX is working with advisers Morgan Stanley and KBW, the investment banking arm of Stifel, to review strategic alternatives. People familiar with the matter said the options under consideration include a potential sale, a merger with a special purpose acquisition company, or an initial public offering. LMAX, which is headquartered in London, recently launched a 24/7 multi-asset exchange. The company has also received a $150 million strategic investment from Ripple. According to the information provided, that investment is tied to institutional stablecoin adoption. The development points to a period of active strategic review for LMAX as it considers possible paths for its next stage.2050
LMAX Group2026-07-24 14:40:50LMAX Group weighs sale, SPAC merger and IPO options with Morgan Stanley and KBWInstitutional crypto trading venue LMAX Group is working with Morgan Stanley and investment bank KBW to review strategic options, according to CoinDesk. The paths under consideration include a sale, a merger with a special purpose acquisition company, and an initial public offering in either Nasdaq or Europe. People familiar with the matter said the company could be valued at as much as $5 billion. The report said LMAX is not under pressure to go public soon. Its foreign exchange business has helped support the company while the crypto market remains weak. That cushion appears to give the group more flexibility as it studies different routes. LMAX has also been expanding its product scope. In recent years, it launched a 24/7 multi-asset exchange that supports foreign exchange, digital assets, commodities and tokenized securities. Earlier this year, in January, Ripple made a $150 million strategic investment in the company. The funding is intended to help drive institutional adoption of the RLUSD stablecoin through LMAX’s trading and settlement network.1480
