Ripple USD

Standard

Dubai

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 <a href="https://www.sc.com/en/press-release/standard-chartered-launches-rlusd-custody-and-joins-planned-collateral-integration-with-ripple-and-lmax-group/" rel="noopener noreferrer nofollow">argued</a> that this setup could reduce transfer-related operational risk, improve counterparty exposure management, and make institutional capital more efficient.
<blockquote>
 “RLUSD was built for exactly this kind of institutional use case. Our customers want the efficiency of a regulated stablecoin without giving up the custody standards they already trust. Bringing together RLUSD on the XRP Ledger, Standard Chartered’s custody capabilities and LMAX Group’s institutional trading infrastructure creates a practical path for institutions to put stablecoins to work across global markets,” said Jack McDonald, SVP, Stablecoins, Ripple.
</blockquote>
Importantly, the planned collateral integration is not live yet, but Standard Chartered said it remains subject to final documentation, testing, regulatory requirements, internal approvals, and jurisdictional readiness.
Nevertheless, this is another major adoption win for Ripple and its native assets. The stablecoin alone recently <a href="https://cryptopotato.com/important-ripple-news-and-xrp-price-update-october-8/" rel="noopener noreferrer nofollow">reached</a> a market cap of over $2.5 billion, less than two years after its debut.
The post <a href="https://cryptopotato.com/big-ripple-xrp-development-as-standard-chartered-goes-live-with-rlusd-custody/" rel="noopener noreferrer nofollow">Big Ripple (XRP) Development as Standard Chartered Goes Live With RLUSD Custody</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

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

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