Standard Chartered launches custody for Ripple’s RLUSD

• Standard Chartered has launched institutional custody services for Ripple USD (RLUSD) on the XRP Ledger.
• The bank is also joining a planned collateral integration involving Ripple and LMAX Group.
• The proposed integration could allow eligible clients to use RLUSD as collateral, subject to testing and regulatory approvals.

Standard Chartered PLC (LSE:STAN) has launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger, opening access to eligible clients through its Dubai branch.

The service operates through Standard Chartered Bank’s DIFC Branch, regulated by the Dubai Financial Services Authority.

“Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed,” according to Waqar Chaudry, Global Head of Digital Assets, Securities Services, Transaction Services at Standard Chartered.

Standard Chartered is working with Ripple and LMAX Group to make RLUSD eligible collateral for agreed trading and collateral-management products.

“RLUSD was built for exactly this kind of institutional use case,” according to Jack McDonald, SVP, Stablecoins at Ripple.

The planned arrangement would mirror eligible collateral’s value to LMAX Group without transferring the underlying RLUSD directly to its trading venue.

The companies expect this structure to reduce transfer-related operational risks and improve capital efficiency, subject to final documentation, testing and regulatory requirements.

The launch expands institutional access to stablecoin custody as banks and trading platforms develop infrastructure for digital asset markets.