BREAKING: Standard Chartered Launches Custody for Ripple’s RLUSD Stablecoin

Standard Chartered today announced that institutional custody support for Ripple’s RLUSD stablecoin on the XRP Ledger (XRPL) is now live. This gives eligible clients access to the bank’s digital asset custody infrastructure.

The bank will provide institutional custody support through its DIFC Branch in Dubai, which is regulated by the Dubai Financial Services Authority (DFSA).

“Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed,” said Waqar Chaudry, Global Head of Digital Assets at Standard Chartered.

He added that the ecosystem must make it easier for clients to hold assets securely, access liquidity and deploy collateral efficiently within trusted frameworks. It gives institutions greater flexibility in how they hold and deploy digital assets for trading, while reducing operational risk, optimizing counterparty exposure, and improving capital efficiency.

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Standard Chartered Joins Ripple and LMAX to Enable RLUSD as Collateral

Standard Chartered is also working with Ripple and LMAX Group to enable RLUSD as eligible collateral and extend Standard Chartered’s collateral mirroring model to LMAX Group.

The move marks the next phase of collaboration between firms, bringing RLUSD across trading and collateral management. Under the mirroring approach, LMAX Group reflects the value of eligible RLUSD collateral without requiring the underlying tokens to be transferred directly to the trading venue.

Jack McDonald, SVP of Stablecoins at Ripple, said “RLUSD was built for exactly this kind of institutional use case. Bringing together RLUSD on the XRP Ledger, Standard Chartered’s custody capabilities and LMAX Group’s institutional trading infrastructure creates a practical path for institutions to put stablecoins to work across global markets.”

The planned capabilities remain subject to final documentation, testing, applicable laws and regulations, internal approvals, and jurisdictional readiness.

Standard Chartered and LMAX have previously expanded their digital asset partnership, including custody arrangements via the DIFC and Luxembourg and earlier prime brokerage activity.

The announcement builds on Standard Chartered’s broader expansion of institutional digital asset custody capabilities across hubs including the UAE, Luxembourg, and Hong Kong. As CoinGape reported recently, Standard Chartered plans to expand digital asset custody in Singapore.

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