• Standard Chartered launches institutional custody for RLUSD on the XRP Ledger through its Dubai DIFC branch.

• Ripple and LMAX Group plan to make RLUSD eligible collateral for selected trading products.

• The planned collateral model lets RLUSD remain in bank custody while its value is mirrored to LMAX.

Banking giant Standard Chartered has launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger. This gives eligible clients the ability to securely hold the stablecoin through the bank.

The move also sets up a planned partnership with Ripple and LMAX Group to let institutions use RLUSD as trading collateral without transferring tokens to an exchange.

Standard Chartered Brings RLUSD Custody to Dubai

In a recent press release, Standard Chartered announced that its custody service for Ripple USD (RLUSD) on the XRP Ledger (XRPL) is now live.

The service is available through Standard Chartered’s Dubai International Financial Centre (DIFC) branch, which is regulated by the Dubai Financial Services Authority (DFSA).

The service allows eligible institutional clients to hold and manage RLUSD through the bank’s digital asset custody infrastructure.

Jack McDonald, Ripple’s senior vice president of stablecoins, said,

“RLUSD was built for exactly this kind of institutional use case.”

Meanwhile, Standard Chartered Global Head of Digital Assets Waqar Chaudry said,

“Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed.”

Ripple and LMAX Plan to Use RLUSD as Collateral

The next step involves LMAX Group, which operates an institutional trading marketplace.

Under the planned arrangement, clients can keep their RLUSD with Standard Chartered and use its value as collateral on LMAX without transferring the tokens directly to the trading platform.

However, the service still requires final agreements, testing, and regulatory approval.

Luke Dorney, Head of Custody at LMAX Group, said the arrangement would give clients “greater flexibility in how they hold and deploy RLUSD.”

Standard Chartered Expands Stablecoin Services

Standard Chartered is also expanding its digital asset services beyond the UAE, with plans to launch stablecoin custody for institutional clients in Singapore by the end of 2026.

However, the RLUSD collateral service with LMAX is not yet live. Its launch depends on testing, regulatory approval, and other required checks.

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