Standard Chartered Will Hold Ripple's Stablecoin in Dubai—And Let Clients Trade With It Without Moving It
Summary
Standard Chartered is offering institutional clients in Dubai custody of Ripple’s RLUSD stablecoin on the XRP Ledger. It also plans to make RLUSD eligible as collateral on certain LMAX Group products through “collateral mirroring”: the tokens would remain with the bank while LMAX receives a record of their value for trading. The LMAX service is not yet live and awaits documentation, testing and regulatory approvals. RLUSD received Dubai regulatory approval in June 2025; Standard Chartered has provided crypto custody there since 2024.
