Standard Chartered's Dubai Branch Launches RLUSD Custody Services, Plans to Support Its Use as Collateral for LMAX Trading

PANews, October 13 - According to The Block, Standard Chartered has launched institutional custody services for Ripple's US dollar stablecoin RLUSD on the XRP Ledger through its Dubai International Financial Centre (DIFC) branch, which is regulated by the Dubai Financial Services Authority (DFSA). Standard Chartered is also collaborating with Ripple and LMAX Group, planning to use a "collateral mirror" model that would allow clients' RLUSD held in custody with Standard Chartered to serve as eligible collateral for certain LMAX products, without the assets needing to be transferred to the trading platform. This arrangement is still subject to final documentation, testing, regulatory requirements, and internal approvals, with no launch timeline announced yet. Previously, Standard Chartered had announced plans to offer custody services for crypto assets, stablecoins, and tokenized real-world assets (RWA) at its Singapore branch.