Standard Chartered Launches RLUSD Custody as XRP Ledger Activity Surges

Standard Chartered has launched institutional custody services for Ripple's RLUSD stablecoin on the XRP Ledger, expanding its partnership with Ripple and LMAX Group. This service allows institutions to use RLUSD as trading collateral without transferring tokens directly to LMAX, aiming to reduce counterparty exposure and improve capital efficiency. The RLUSD is now operational through Standard Chartered's Dubai branch, regulated by the Dubai Financial Services Authority. This announcement follows the bank's plans to introduce digital asset custody services in Singapore for institutional clients.