LMAX Group Seeks Sale or Public Listing With Valuation Up to $5 Billion

According to CoinDesk, institutional crypto trading platform LMAX Group is exploring strategic options including a sale, SPAC merger, or initial public offering on Nasdaq or European exchanges, with a potential valuation reaching up to $5 billion. The company has engaged Morgan Stanley and investment bank KBW to evaluate the alternatives and is not in a rush to proceed, sources said.

LMAX received a $150 million strategic investment from Ripple in January to accelerate adoption of RLUSD stablecoin through its trading and settlement network. The company has expanded rapidly in recent years, launching a 24/7 multi-asset exchange supporting forex, digital assets, commodities, and tokenized securities.