Standard Chartered launched institutional custody for Ripple's RLUSD stablecoin on the XRP Ledger on October 12, 2026, operating via its Dubai branch regulated by the DFSA. The bank is partnering with Ripple and LMAX Group on a collateral mirroring model, allowing institutions to post RLUSD as trading collateral without transferring assets directly to the venue. The move expands Standard Chartered's digital asset footprint, alongside plans for Singapore custody services by late 2026.
RLUSD custody launch in Dubai
- ▪Standard Chartered's RLUSD custody service in Dubai is regulated by the Dubai Financial Services Authority
- ▪Standard Chartered launched institutional custody for Ripple's US dollar-pegged stablecoin, RLUSD, on the XRP Ledger through its Dubai International Financial Centre branch on October 12, 2026
RLUSD collateral integration with LMAX Group
- ▪Under Standard Chartered's collateral mirroring model, the value of RLUSD holdings will be recognized by LMAX Group without transferring the underlying tokens to the trading venue
- ▪Standard Chartered, Ripple, and LMAX Group are working to allow institutional clients to use RLUSD as eligible trading collateral on LMAX Group
- ▪The planned RLUSD collateral integration with LMAX Group remains subject to final documentation, testing, regulatory approvals, and internal sign-offs
Early Standard Chartered and Ripple partnership
- ▪In 2017, Standard Chartered completed its first real-time corporate cross-border payment using Ripple's enterprise blockchain technology, settling in less than 10 seconds
- ▪Standard Chartered and Ripple began collaborating in late 2015 with a proof of concept applying distributed-ledger technology to trade-finance invoicing
Debatable claims
- ▪Private stablecoins are reliable enough to serve as institutional margin collateral
- ▪Off-exchange collateral mirroring eliminates venue counterparty risk in institutional crypto trading
- ▪Traditional bank custody provides adequate risk management for institutional stablecoin holdings
- ▪Public blockchains like XRP Ledger meet institutional security standards for financial settlement
Story comments
Loading comments…