Update
Standard Chartered Adds Ripple's Stablecoin to Custody Services
Standard Chartered, a British bank, has announced that its Dubai branch will now provide custody services for Ripple's RLUSD stablecoin. This service allows eligible institutional clients to trade with RLUSD without physically moving the tokens to an exchange. Standard Chartered has joined a planned integration with LMAX Group, a London-based marketplace for currencies and crypto, to make RLUSD eligible as collateral for certain LMAX products. The RLUSD stablecoin, backed by dollars, U.S. government bonds, and cash equivalents, is available on the XRP Ledger, a public blockchain closely tied to Ripple. The service is available through Standard Chartered Bank's DIFC Branch, which is regulated by the Dubai Financial Services Authority (DFSA).