Standard Chartered Bank Launches RLUSD Custody Service, Partners with Ripple and LMAX to Advance Collateral Integration

Standard Chartered Bank has officially announced support for institutional custody services for Ripple USD (RLUSD) issued on the XRP Ledger (XRPL). The service is offered through Standard Chartered Bank's DIFC branch and is regulated by the Dubai Financial Services Authority (DFSA). Concurrently, Standard Chartered Bank is partnering with Ripple and LMAX Group to incorporate RLUSD into LMAX Group's eligible collateral framework for its products. Through Standard Chartered Bank's collateral mirroring model, institutional clients can flexibly deploy digital assets for trading without directly transferring RLUSD to the trading venue, thereby reducing transfer operational risks, optimizing counterparty exposure, and enhancing capital efficiency. The aforementioned functionalities will go live only after final document execution, testing, and compliance approvals are completed.