Standard Chartered has announced institutional custody support for Ripple USD (RLUSD) on the XRP Ledger. The service operates through the bank's DIFC branch in Dubai, which is regulated by the Dubai Financial Services Authority.
The bank plans to integrate with the London-based marketplace LMAX Group to allow clients to use RLUSD as collateral for trading. Under this collateral mirroring model, the assets remain in the bank's custody while LMAX receives a record of the value, preventing the need to transfer tokens to an exchange.
This initiative aims to provide institutional clients with access to digital asset markets while maintaining bank-level security. Standard Chartered, classified as a systemically important bank, has been offering crypto custody services in Dubai since 2024.
The RLUSD stablecoin, launched by Ripple in December 2024, is backed by cash equivalents, US government bonds, and dollars. While the stablecoin received regulatory approval in Dubai in June 2025, the LMAX integration remains subject to final testing and approvals.
