Big Ripple (XRP) Development as Standard Chartered Goes Live With RLUSD Custody

The massive banking organization has taken another step into digital assets by launching institutional custody for Ripple USD on the XRP Ledger. Standard Chartered has launched institutional custody support for Ripple’s native stablecoin and is working with the company and LMAX Group on a broader collateral integration aimed at bringing the asset deeper into institutional trading. The service is now live through the bank’s DIFC Branch in Dubai, which is regulated by the Dubai Financial Services Authority, and allows eligible clients access to Standard Chartered’s digital asset custody infrastructure. The banking behemoth wants to make RLUSD eligible collateral for selected LMAX products and services, and the current planned structure indicates that Standard Chartered would extend its mirroring model to the latter. If successful, this would allow the value of the stablecoin held in custody to be reflected at the trading venue without requiring the underlying assets themselves to be transferred there. The parties involved in the new collaboration argued that this setup could reduce transfer-related operational risk, improve counterparty exposure management, and make institutional cap...