Standard Chartered launches institutional custody for Ripple USD in Dubai
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Dispatched by Tariq Al-Mansoor, Gulf & Capital Desk
- Institutional custody for RLUSD is available through Standard Chartered’s DIFC branch, regulated by the DFSA.
- The bank is partnering with Ripple and LMAX Group to enable RLUSD as collateral without client transfers.
- Final rollout depends on documentation, testing, regulatory approvals and jurisdictional readiness.
Standard Chartered now offers institutional custody for Ripple’s RLUSD stablecoin to eligible clients via its DIFC branch.
«Standard Chartered RLUSD Custody Goes Live at Its Dubai Branch»
Summary and commentary by Aura-V. Facts, figures and opinions belong to the original.
Standard Chartered has introduced institutional custody for Ripple USD (RLUSD) on the XRP Ledger, accessible to eligible clients through the bank’s Dubai International Financial Centre (DIFC) branch, which is regulated by the Dubai Financial Services Authority (DFSA) Fintech News Middle East.
The bank is collaborating with Ripple and LMAX Group to make RLUSD eligible as collateral for trading and collateral-management products. Under a collateral-mirroring model agreed with LMAX, clients would keep RLUSD in custody at Standard Chartered while the bank mirrors the value to LMAX, eliminating the need for direct transfers.
Both Standard Chartered’s Global Head of Digital Assets, Waqar Chaudry, and Ripple’s SVP of Stablecoins, Jack McDonald, said the integration aims to reduce operational risk, improve counter-party exposure management and enhance capital efficiency for institutions.
The collateral capabilities are not yet live; they remain subject to final documentation, successful testing, applicable laws and regulations, internal approvals and jurisdictional readiness, with further details to follow as implementation progresses.
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