Update
Standard Chartered Adds Ripple USD Stablecoin Custody in Dubai
Standard Chartered, a British bank, has announced that it now supports institutional custody of Ripple USD (RLUSD) on the XRP Ledger, its digital asset custody infrastructure. This service is available through Standard Chartered Bank's DIFC Branch, which is regulated by the Dubai Financial Services Authority (DFSA). The bank has joined a planned integration with LMAX Group, a London-based marketplace for currencies and crypto, to make RLUSD eligible collateral on agreed LMAX products. This move allows eligible clients to trade RLUSD without ever handing over the tokens to an exchange, ensuring their assets are safeguarded by the bank. The service covers the XRP Ledger version of RLUSD, which was launched in December 2024 on both Ethereum and the XRP Ledger. The bank has previously offered crypto custody in Dubai since 2024 and became the first global systemically important bank to let institutions mint and redeem Circle's USDC directly. The LMAX leg of the integration is not yet live, and the bank remains subject to final documentation, testing, and regulatory approvals. No specific date for when clients will be able to post RLUSD as margin has been provided.