Standard Chartered offers Ripple stablecoin custody in Dubai

Standard Chartered has launched institutional custody services for Ripple's US dollar-pegged stablecoin, RLUSD, on the XRP Ledger. Decrypt, CryptoSlate, CoinDesk, and Cointelegraph reported that the service is offered through the bank's Dubai International Financial Centre branch, which is regulated by the Dubai Financial Services Authority. [1][2][3][4]

The bank plans to partner with institutional trading venue LMAX Group to allow clients to use RLUSD as trading collateral under a collateral mirroring arrangement. Decrypt, CoinDesk, and The Defiant reported that this setup would let institutional clients post the stablecoin as collateral without transferring the tokens away from the bank custody service. [1][3][7]

CoinDesk reported that the LMAX integration follows $150 million in financing that Ripple previously provided to LMAX to integrate RLUSD into its infrastructure. CoinDesk and CryptoSlate noted that the proposed collateral link remains conditional and is not yet live. [2][3]

CoinDesk noted that Standard Chartered manages nearly $450 billion in assets and recently expanded digital asset custody services into Singapore, Hong Kong, and Luxembourg. CryptoSlate reported that Ripple's RLUSD stablecoin has a market capitalisation of $2.4 billion. [2][3]