Standard Chartered Launches RLUSD Custody and Trading Collaboration
- Standard Chartered offers custody for Ripple’s USD-pegged stablecoin RLUSD at its Dubai branch.
- The bank manages nearly $450 billion in assets and provides regulated custody services.
- Clients can use RLUSD held at Standard Chartered as collateral for trading on LMAX Group’s platform.
- The arrangement with LMAX is pending documentation, testing, and regulatory approvals.
- This setup allows institutions to trade without transferring stablecoins to the trading venue.
The collaboration between Standard Chartered and LMAX aims to facilitate the use of stablecoins in institutional trading by separating custody from execution, enhancing security for clients.
With nearly $450 billion in assets under management, Standard Chartered’s custody service for RLUSD represents a significant step in regulated digital asset management.(Source)
