LMAX Group has officially launched Kiosk, a fully hosted interface that enables institutional clients to accept digital assets from customers, hold them in LMAX Custody and post those assets as margin across the group's wider trading venues. According to the latest announcement, the platform supports spot foreign exchange, precious metals, digital assets, contracts for difference and perpetual futures. Built on trusted infrastructure, Kiosk is delivered as a single, broker-branded portal that sits on top of LMAX Group's existing regulated infrastructure. The interface bundles deposits, withdrawals, API credential management, WalletConnect support, security controls and cross-asset treasury management in one workflow, offering a simplified workflow solution integrating deposits, withdrawals, API credential management, WalletConnect, security controls and treasury management. LMAX has been previewing the offering for months, with Managing Director for Digital Assets Jenna Wright describing the firm as "currently onboarding institutional brokers to a new, fully hosted, broker-branded interface" with cross-asset collateral functionality in a March 2026 thought-leadership piece.
LMAX Group CEO David Mercer positioned Kiosk as market infrastructure, stating that "Hyper-efficient collateral will be the foundation of modern, converged capital markets." As reported by LMAX Group, the product targets institutions that want to use digital assets without separating custody and trading activity across several systems. The company presented Kiosk as a compliant route for institutions adding crypto to core trading systems, offering secure custody, smooth connectivity and instant collateral access for digital assets. Michael Walker, CEO of BlackBull Markets, endorsed the launch, stating that Kiosk "is an important step forward in helping brokers safely and efficiently integrate digital assets into their infrastructure." This strategic partnership is significant as LMAX acquired a roughly 20.8% stake in BlackBull Markets in 2024, making it one of the company's three largest shareholders alongside the founders and Milford's Private Equity Fund III. BlackBull Markets currently presents monthly client trading volume of close to $200 billion to investors during its IPO roadshow targeting a dual listing on the ASX and NZX.
The launch positions LMAX in a crowded market as banks, prime brokers and liquidity providers each try to monetize institutional demand for using digital assets as working capital. JPMorgan announced in October 2025 that it planned to accept Bitcoin and Ether as loan collateral for institutional clients globally, working through a third-party custodian. StoneX Digital launched a Bitcoin-backed lending platform for institutional traders in February 2026, while Ripple Prime has built out cross-margining across digital assets, FX, fixed income and cleared derivatives, with $RLUSD increasingly used as the collateral asset of choice. B2PRIME extended its B2TRADER platform in March 2026 with crypto spot and perpetual futures alongside FX and CFDs, supporting cross-collateral margin in $BTC, $ETH and a basket of stablecoins. Singapore Exchange went live with Marex-cleared Bitcoin and Ether perpetual futures in late 2025, targeting accredited and institutional investors with a centrally cleared, onshore alternative to offshore venues. LMAX's pitch differs in that it's designed to slot inside a broker's own front end and present LMAX Custody as the back office, rather than operating primarily as a direct counterparty to end clients.
The launch of Kiosk underscores the growing institutional appetite for bridging crypto and mainstream finance. The product extends LMAX's multi-year build-out aimed at sitting in the middle of the traditional finance and crypto stack. LMAX launched institutional perpetual futures on $BTC/USD and $ETH/USD in September 2025 with leverage of up to 100x, then integrated the offering with Gold-i in December to widen broker access. In March 2025, LMAX added Ripple's $RLUSD stablecoin to LMAX Digital, and the stablecoin has since been used as the main collateral asset for cross-margining across spot crypto, FX, gold, perpetual futures and CFDs. Kiosk extends that logic to client-held digital assets more broadly, putting a packaged interface around what was previously a bespoke onboarding process. The Depository Trust & Clearing Corporation (DTCC) revealed plans to pilot tokenized securities trading in July, with an official launch expected in October, aiming to offer tokenized real-world assets while maintaining the same protections and ownership rights as traditional securities. This broader trend among financial institutions toward experimenting with onchain collateral and tokenized assets positions LMAX as a key player in this evolving market landscape.
