Standard Chartered Launches RLUSD Custody on XRP Ledger
- Standard Chartered has opened a custody service for Ripple USD (RLUSD) on the XRP Ledger as of October 12.
- The service is available through the bank’s Dubai International Financial Centre branch, regulated by the Dubai Financial Services Authority.
- RLUSD is a stablecoin designed to maintain a stable value by tracking the U.S. dollar.
- A planned integration with LMAX Group aims to allow RLUSD to serve as collateral without transferring tokens directly to trading venues.
- The launch builds on a multiyear partnership between Ripple and LMAX involving $150 million in financing announced earlier this year.
Standard Chartered’s new custody service for RLUSD enhances its digital asset infrastructure, offering institutions secure management of stablecoins on the XRP Ledger. The initiative aligns with broader efforts to integrate RLUSD into institutional trading frameworks, potentially improving capital efficiency and reducing operational risks.
The collaboration between Standard Chartered and LMAX Group could transform how institutions manage digital assets, leveraging RLUSD’s stable value while maintaining security standards. (Source)
