Standard Chartered announced Monday that the bank now supports institutional custody of Ripple USD (RLUSD) issued on the XRP Ledger. Eligible clients can access the service through Standard Chartered Bank's DIFC Branch in Dubai. The Dubai Financial Services Authority regulates the branch. The bank's service covers the XRP Ledger version of RLUSD. Standard Chartered also joined a planned integration with LMAX Group, a London-based marketplace for currencies and crypto. The integration would make RLUSD eligible collateral for agreed LMAX products. Collateral, or margin, is money a trader deposits with a trading venue to cover potential losses. Under Standard Chartered's proposed collateral mirroring arrangement, RLUSD would remain at the bank. LMAX would receive a mirrored record of the tokens' value that counts toward the client's trades. The tokens would not move to the exchange. The LMAX integration is not yet live. Standard Chartered said the integration remains subject to final documentation, testing and regulatory approvals. The bank gave no date for when clients could post RLUSD as margin. With collateral mirroring, a trader's collateral would remain at Standard Chartered if the exchange failed. The Financial Stability Board considers Standard Chartered one of 29 banks that are too big to fail and subjects those banks to tougher capital rules. A regulated custodian holds clients' assets and takes legal responsibility for safeguarding those assets. The custodian also receives permission to supervise, freeze and control funds held in custody. Waqar Chaudry, head of digital assets in Standard Chartered's securities services unit, said institutional clients want access to digital asset markets without compromising asset safeguards. RLUSD is a dollar-pegged stablecoin designed to be worth $1, backed by dollars, US government bonds and cash equivalents. Ripple launched RLUSD in December 2024 on Ethereum and the XRP Ledger, a public blockchain closely tied to Ripple. RLUSD has grown to roughly $2.45 billion in market capitalization. That value remains under 1% of a stablecoin market worth about $306 billion. RLUSD received approval from Dubai's regulator in June 2025. Standard Chartered has offered crypto custody in Dubai since 2024. In July, Standard Chartered said the bank became the first global systemically important bank to let institutions mint and redeem Circle's USDC directly.
Standard Chartered to Custody Ripple's RLUSD in Dubai, Enable Trading Without Transfers
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Summary
Standard Chartered now offers institutional custody of Ripple USD (RLUSD) via its Dubai branch on the XRP Ledger. The bank will also partner with LMAX Group to let traders use RLUSD as collateral without moving tokens. RLUSD, a dollar-pegged stablecoin, has a $2.45 billion market cap and secured regulatory approval in Dubai in June 2025. With rising interest in altcoins to watch, the move could boost trading volume for digital assets in the region.
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