Standard Chartered launches institutional custody for Ripple's RLUSD stablecoin on the XRP Ledger

Ripple/RLUSD

Standard Chartered has launched institutional custody for Ripple's RLUSD stablecoin on the XRP Ledger, run through its branch in Dubai's financial centre. The bank plans to extend its collateral model to the trading firm LMAX, so RLUSD could back trades there without the tokens leaving custody.

• Eligible institutional clients get access to the bank's digital asset custody infrastructure.
• The LMAX plan mirrors the collateral value to LMAX while the tokens stay with the bank, which the bank says could reduce transfer and counterparty risk.
• The LMAX collateral feature is a plan, not a live service; it still needs final documentation, testing, regulatory requirements and internal approvals.
• No launch date for the LMAX feature has been announced.
• No custody volumes, asset amounts or fees were disclosed.