Standard Chartered launches RLUSD custody on XRP Ledger
Standard Chartered has launched custody for Ripple USD on the XRP Ledger through its DIFC branch. The bank is collaborating with Ripple and LMAX Group to let clients use RLUSD as collateral without moving the tokens directly to the trading venue. More features remain subject to approvals and testing.
Standard Chartered’s new service went live on 12 October 2026, allowing qualifying institutions to hold RLUSD issued on the XRP Ledger through the bank’s DIFC branch. That branch is supervised by Dubai’s DFSA. The XRP Ledger is described as a public network designed for quick, cheap settlement and transfers among institutional counterparties.
A planned tie-up with Ripple and LMAX Group would treat RLUSD as qualifying collateral for selected LMAX products. Instead of moving tokens to the venue, the bank would mirror their value. Additional functions still depend on paperwork, testing, regulatory clearances, and readiness in relevant jurisdictions.
This move may affect institutional investors, custodians, and trading venues by making stablecoin holdings easier to use as collateral while assets stay in custody. If adopted, it could reduce some operational friction and counterparty exposure, potentially improving capital efficiency for participating firms. Broader society may see indirect effects if such models encourage more regulated digital-asset infrastructure, though risks around custody, stablecoin reliance, and market concentration could remain.