Standard Chartered to Custody and Facilitate Trading of Ripple RLUSD Stablecoin

Ripple RLUSD stablecoin — Standard Chartered‘s Dubai subsidiary will begin holding Ripple’s RLUSD stablecoin for clients and enable them to post it as trading collateral without moving the assets off the bank’s platform.

The bank’s SC Ventures unit and the crypto exchange LMAX Digital have established a bridge to allow RLUSD held in Standard Chartered’s Dubai digital assets vault to be used as collateral for trading on LMAX. This setup means the coins never need to leave the bank’s custody, streamlining the process for institutional clients.

This integration positions Standard Chartered as the first global bank to custody RLUSD and allow its use in a trading venue. It represents a significant step for Ripple’s stablecoin, which launched on the XRP Ledger and Ethereum in June 2024, aiming to bridge traditional and decentralized finance.

The move is part of a broader push by Standard Chartered into digital asset services through its SC Ventures division, which also operates the crypto custody platform Zodia Custody.