Standard Chartered Adds XRP Ledger-Based RLUSD

Standard Chartered has expanded its digital asset custody services to support Ripple USD (RLUSD) issued on the XRP Ledger (XRPL), giving eligible institutional clients access to the bank’s custody infrastructure through its Dubai International Financial Centre (DIFC) branch, regulated by the Dubai Financial Services Authority (DFSA).

The announcement marks the next phase of collaboration between Standard Chartered, Ripple and LMAX Group to support institutional adoption of RLUSD. The arrangement combines Standard Chartered’s digital asset custody capabilities with LMAX Group’s institutional trading infrastructure, with the parties intending to enable RLUSD as eligible collateral for agreed trading products and solutions.

Standard Chartered Adds XRP Ledger-Based RLUSD

Under the proposed framework, institutional clients will be able to use a collateral mirroring model rather than transferring RLUSD directly to the trading venue. The arrangement is going to provide greater flexibility in managing digital assets while reducing transfer-related operational risks, optimising counterparty exposure and improving capital efficiency.

Waqar Chaudry, Global Head of Digital Assets, Securities Services, Transaction Services at Standard Chartered, said institutional clients need secure asset custody, access to liquidity and efficient collateral deployment within trusted financial frameworks. He added that integrating the capabilities of Standard Chartered, Ripple and LMAX could help institutions incorporate digital assets into their broader financial activities.

Luke Dorney, Head of Custody, Digital Assets at LMAX Group, said RLUSD was becoming an important component of institutional digital asset markets. He noted that adopting Standard Chartered’s collateral mirroring model would offer clients more flexibility in deploying the stablecoin across LMAX Group’s cross-asset marketplace while maintaining expected custody and risk management standards.

Jack McDonald, SVP of Stablecoins at Ripple, said RLUSD was designed to address institutional requirements for regulated stablecoins and trusted custody arrangements. He highlighted the combination of RLUSD on the XRP Ledger, Standard Chartered’s custody infrastructure and LMAX Group’s trading capabilities as a route for institutions to use stablecoins across global markets.

The development highlights the growing focus on integrating stablecoins into established financial infrastructure, particularly through custody arrangements and collateral management frameworks designed for institutional trading.

Also, stay updated with the Latest Broker News. Happy Trading!