Ripple’s RLUSD gains institutional backing as Standard Chartered debuts Dubai custody
Summary
Standard Chartered’s Dubai branch now offers eligible institutions custody for Ripple’s RLUSD stablecoin on the XRP Ledger. The bank and Ripple are also working with LMAX Group to let clients use RLUSD held in bank custody as trading collateral without transferring it to the venue. That service is not yet live and depends on testing, documentation, regulatory requirements and approvals. The initiative extends Ripple’s push to use RLUSD in institutional trading and builds on its $150 million financing deal with LMAX. Standard Chartered has also been expanding digital-asset custody services in other financial centers.
