Standard Chartered Launches RLUSD Custody on XRP Ledger,…
By Tobi Opeyemi Amure
AI summary of the source article
Standard Chartered has launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger via its DIFC branch. The bank is also working with Ripple and LMAX Group to enable RLUSD use as trading collateral.
Why it matters
The arrangement is expected to give institutions greater flexibility in how they hold and deploy digital assets for trading, while reducing transfer-related operational risks, optimising counterparty exposure and improving capital efficiency.
Key facts
- Standard Chartered launched institutional custody for Ripple USD on the XRP Ledger through its Dubai International Financial Centre branch.
- A planned integration with Ripple and LMAX Group will let institutions use RLUSD as collateral while Standard Chartered mirrors its value, keeping assets in custody.
- RLUSD's market capitalisation surpassed $2 billion in August, with roughly $988 million issued on the XRP Ledger.
Source excerpt · FinanceFeeds
Standard Chartered has launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger (XRPL), giving eligible clients access to its digital asset custody infrastructure as the bank works with Ripple and LMAX Group to expand the stablecoin’s use in trading and collateral management. The service, announced on October 12, is available through Standard Chartered ’s Dubai International Financi…