Standard Chartered Bank’s Dubai branch offers custody services for RLUSD, and plans to integrate with LMAX’s trading collateral system.
2026.10.12 20:22:14
Standard Chartered Dubai has launched custody services for Ripple’s USD stablecoin RLUSD for eligible institutional clients, supporting RLUSD issued on the XRP Ledger. The bank also plans to collaborate with Ripple and institutional trading platform LMAX Group, allowing clients to use RLUSD held with Standard Chartered as collateral for trades on LMAX’s platform, without transferring the stablecoin to the trading venue. Standard Chartered noted that the collateral arrangement has not yet gone live, as it still needs to complete document signing, testing, regulatory compliance, and internal approvals. This model separates asset custody from trade execution, enabling institutional clients to hold stablecoins with the bank while using them as trading collateral. In January this year, Ripple provided LMAX with $150 million in financing to integrate RLUSD into its institutional trading infrastructure. If the partnership is implemented, it will further expand RLUSD’s applications in institutional trading collateral scenarios. Additionally, Standard Chartered has been expanding its digital asset custody business, and last week announced plans to offer custody services for select cryptocurrencies, stablecoins, and tokenized real-world assets to institutional clients in Singapore.
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