LMAX launches Kiosk to let institutions use crypto as collateral
Kiosk lets banks, brokers and asset managers pledge Bitcoin and Ether held in LMAX Custody as margin to trade FX, metals, CFDs, perpetual futures and crypto across LMAX venues.
LMAX Group launched Kiosk on May 12 in London, a hosted platform that allows banks, brokers and asset managers to use Bitcoin and Ether held in LMAX Custody as collateral to trade spot foreign exchange, precious metals, contracts for difference, perpetual futures and other digital assets.
The product is offered to LMAX’s network of more than 600 institutional clients. Institutions can deposit digital assets into LMAX Custody and use those balances as margin across multiple trading venues run by the group rather than restricting collateral to crypto-only trades.
Kiosk provides a single hosted portal that consolidates deposits, withdrawals and security management into one interface. The platform links custody balances directly to margining functions so clients do not have to move assets between unconnected systems to provide collateral.
LMAX built Kiosk on top of its regulated FX and metals venues and its digital exchange, LMAX Digital, which serves banks and brokers seeking institutional crypto execution. The platform applies custody and connectivity across the group’s trading venues so crypto holdings can support positions in non-crypto markets.
A bank using Kiosk can back a euro-dollar FX position or a gold CFD with bitcoin or ether held in custody. LMAX positions the product to enable cross-asset collateral use where most crypto platforms limit collateral to crypto markets.
LMAX CEO David Mercer described Kiosk as “foundational infrastructure for modern capital markets,” and framed the platform as a single layer that combines custody, connectivity and collateral access. LMAX designed the product for institutional clients that already hold digital assets and want to use them without repeatedly reshuffling collateral.
The platform went live May 12 and is available to clients connected to LMAX’s trading venues. Kiosk links custody balances to margin access across spot FX, precious metals, CFDs, perpetual futures and other digital assets, extending collateral functionality within LMAX’s regulated structure.
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