Standard Chartered Launches RLUSD Custody in Dubai, Plans LMAX Collateral Link

RLUSD custody — Standard Chartered‘s Dubai branch has begun offering institutional custody for Ripple’s RLUSD stablecoin, marking a significant step in the token’s integration into regulated financial infrastructure.

The service allows eligible clients to hold the XRP Ledger-based, dollar-pegged stablecoin with the global banking giant. In a related development, Standard Chartered and institutional trading venue LMAX Group plan to enable clients to use RLUSD held in custody as trading collateral without physically moving the assets to the exchange.

The collateral arrangement is subject to testing and regulatory approvals. This initiative builds on a previous $150 million financing deal from Ripple to LMAX, aimed at integrating RLUSD into its institutional trading infrastructure.

The move represents a strategic push by Ripple to establish RLUSD as a tool for institutional settlement and collateral, while simultaneously expanding Standard Chartered’s footprint in the digital asset custody business. The bank manages nearly $450 billion in assets.