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

Odaily Report: Standard Chartered has announced that it is providing institutional custody services for Ripple USD (RLUSD) issued on the XRP Ledger (XRPL) through its DIFC branch, which is regulated by the Dubai Financial Services Authority (DFSA). Standard Chartered is collaborating with Ripple and LMAX Group, with plans to include RLUSD within the scope of eligible collateral for LMAX Group products. Under the collateral mirroring model, institutional clients can use RLUSD for trading without needing to transfer it directly to the trading venue. This feature is still subject to final documentation, testing, and regulatory approvals before it can go live.