Standard Chartered Launches Custody Services for Ripple’s RLUSD Stablecoin
- Standard Chartered has introduced custody services for Ripple’s RLUSD stablecoin through its Dubai International Financial Centre (DIFC) branch.
- Eligible institutional clients can now access the bank’s digital asset custody infrastructure to hold RLUSD.
- The bank plans to integrate a collateral-mirroring model with LMAX Group, allowing RLUSD to be used as trading collateral.
- This model aims to reduce transfer-related risks by allowing clients to retain their tokens in custody while trading.
- Standard Chartered’s new capabilities are subject to regulatory requirements and internal approvals before full implementation.
The launch of custody services for RLUSD marks a significant step in enhancing institutional adoption of digital assets, particularly in the realm of trading collateral management.
With this initiative, Standard Chartered aims to facilitate safer trading practices by enabling institutions to use RLUSD without transferring tokens off-site, thus managing exposure effectively. (Source)
