Standard Chartered builds out institutional custody amid unconfirmed RLUSD reports
Standard Chartered launched institutional custody for Ripple’s RLUSD stablecoin on the XRP Ledger, and eligible clients can hold the token through the bank. The bank also outlined plans to let RLUSD serve as collateral in certain LMAX products under its collateral mirroring model, with that work still subject to documentation, testing, approvals and regulatory preparation.
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Institutions that want to hold RLUSD now have a custody service available through Standard Chartered, and eligible clients can use it to keep the stablecoin with the bank. LMAX clients and counterparties also see a possible collateral route being set up around RLUSD, though that part is not yet in place.
Before this, the relevant setup was not described as live custody at Standard Chartered or as a collateral option for certain LMAX products. What stays the same is that the collateral work is still framed as a project under the bank’s collateral mirroring model, rather than a finished market-wide change.
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