On the chart, XRP looks like just another coin following Bitcoin. On the XRP Ledger, a very different picture is forming. In a single week, a global bank launched custody for Ripple’s stablecoin, tokenized assets on the network passed $5 billion, and XRP holders moved tens of millions of tokens into yield products.
XRP fell to a low of $1.30 as Bitcoin pulled back, then staged a sharp V-shaped recovery to around $1.37. Bitcoin itself was trading near $83,500 in what some experts called a healthy retracement.
Standard Chartered brings RLUSD custody to the XRP Ledger
The biggest development came from Standard Chartered, one of Ripple’s early backers. According to an October 12 announcement, the bank now offers institutional custody for RLUSD, Ripple’s US dollar stablecoin, issued on the XRP Ledger.
- Where: through its branch in the Dubai International Financial Centre, regulated by the Dubai Financial Services Authority
- Who: select institutional clients that meet requirements the bank did not disclose
- Trading link: a partnership with LMAX Group lets clients use RLUSD held in custody for trading without moving the underlying assets
“By integrating our capabilities with Ripple and LMAX, we can help clients incorporate digital assets more confidently into their broader financial activities,” the bank said.
Analytics firm Santiment noted that RLUSD’s supply has grown from about $2.4 billion to about $2.5 billion.
XRP Ledger ranks sixth for tokenized assets
A major tokenized asset tracker places the XRP Ledger sixth among blockchains, with $5.046 billion in total real-world asset value and $4.55 billion in represented value. About 9.8% of that value is distributed. Canton leads the ranking with $27.7 billion in represented assets.
Holders are putting idle XRP to work
Doppler Finance’s XRP yield vault has crossed 90 million XRP, worth about $125 million, as holders move idle tokens into products that earn a return.
DeFi builders also see a new role for XRP. Jesus Rodriguez explained on The Wolf of All Streets podcast that assets such as XRP and XLM, which have never earned on-chain yield, can be used to insure DeFi lending markets such as Aave and Morpho. Earlier insurance models used ETH to protect ETH-based protocols, which he said “never made sense” economically.
A Japanese link to the IMF
In policy news, Reuters reported that Japan’s Finance Minister Satsuki Katayama will chair the World Bank-IMF Joint Development Committee. She will be the first Japanese finance minister to do so since it was created in 1974. Katayama appeared by video at the XRP Tokyo 2026 conference earlier this year.