LMAX Group has launched Kiosk, a hosted portal that lets institutional clients deposit digital assets into LMAX Custody and use them as collateral across several markets.
Summary
- LMAX Kiosk lets institutions use digital assets as collateral across FX, metals, CFDs and crypto.
- The launch follows DTCC, Franklin Templeton and BlackRock moves into tokenized collateral and fund rails.
- LMAX did not disclose supported assets, client names or initial trading volumes for Kiosk yet.
The London-based cross-asset marketplace said the service supports spot foreign exchange, precious metals, digital assets, contracts for difference and perpetual futures.
The platform brings custody, collateral access and trading support into one workflow for clients. LMAX said Kiosk includes deposits, withdrawals, API credential management, WalletConnect, security controls and treasury management. The company said the product targets institutions that want to use digital assets without separating custody and trading activity across several systems.
David Mercer frames Kiosk as market infrastructure
LMAX Group CEO David Mercer said “Hyper-efficient collateral will be the foundation of modern, converged capital markets.” He added that Kiosk gives clients secure custody, smooth connectivity and instant collateral access for digital assets. The company presented the product as a compliant route for institutions adding crypto to core trading systems.
Some details remain limited. LMAX did not name supported digital assets, launch clients or early trading volumes for Kiosk. It also did not say how collateral haircuts, asset eligibility rules or stress-period margin calls will work across each market. Those points matter because institutional users often need clear risk rules before they move collateral at scale.
Tokenized collateral race gains speed
The launch comes as large financial firms test new ways to use tokenized assets as collateral. Recent market updates show DTCC is working with Chainlink on a Collateral AppChain for around-the-clock pricing, margining and settlement. The platform targets a Q4 2026 production launch and follows DTCC’s earlier Smart NAV work with JPMorgan, Franklin Templeton and BNY Mellon.
Other firms are also building similar rails. Franklin Templeton and Kraken parent Payward plan to integrate the BENJI tokenized money market fund into Kraken for collateral and cash management.
BlackRock has filed for another tokenized fund with Securitize after BUIDL grew to about $2.3 billion in assets. OKX has also added BlackRock’s BUIDL as trading collateral for eligible institutional and VIP clients through Standard Chartered.
Moreover, Kiosk places LMAX in a wider shift toward digital assets that can move faster between custody, treasury and trading accounts. For institutions, the main goal is not only crypto exposure. The larger focus is using digital assets as working collateral across regulated trading venues.
