Switch to seedless. Get 30% off with SWITCH30 till Oct 21Standard Chartered launches RLUSD custody, eyes collateral use
6.6 Banking Standard Chartered now offers RLUSD custody on the XRP Ledger and is working with Ripple and LMAX Group to enable RLUSD as trading collateral. Custody is live; collateral integration is pending.
Standard Chartered has introduced institutional custody services for Ripple USD (RLUSD) on the XRP Ledger, expanding its digital asset offerings for institutional clients. The custody solution is provided through the bank’s Dubai International Financial Centre (DIFC) branch, which is regulated by the Dubai Financial Services Authority. In collaboration with Ripple and LMAX Group, Standard Chartered aims to enable RLUSD to serve as eligible collateral for trading on LMAX platforms. This will be achieved through a collateral mirroring model, allowing the value of RLUSD to be reflected for trading purposes without transferring the underlying tokens. While the RLUSD custody service is already live, the collateral integration is still undergoing final documentation, testing, regulatory review, and internal approvals. There is currently no confirmed launch date for this feature. The initiative is designed to offer institutional clients enhanced security and flexibility in digital asset trading and collateral management.
