Standard Chartered Launches Ripple USD Storage Services, Plans LMAX Collateral Integration
UK banking giant Standard Chartered now offers custody solutions for Ripple's RLUSD stablecoin via the XRP Ledger and is working toward enabling institutional clients to utilize these tokens as collateral for trading purposes.
UK-based banking institution Standard Chartered has introduced custody solutions for institutional clients seeking to store Ripple's RLUSD stablecoin, with ambitions to broaden its functionality as collateral for trading activities.
The multinational banking corporation revealed on Monday that it has implemented RLUSD support through the XRP Ledger (XRPL) via its branch located in the Dubai International Financial Centre (DIFC), providing qualified institutional customers with entry to its digital asset storage infrastructure.
The bank intends to broaden its collateral-mirroring approach to include LMAX Group, a company specializing in institutional trading services, which would enable customers to leverage RLUSD as collateral for trading purposes while maintaining custody of the tokens with the bank.
Under this approach, LMAX would acknowledge the worth of qualifying RLUSD holdings without necessitating customers to move the tokens onto its trading infrastructure. According to Standard Chartered, this arrangement could minimize risks associated with token transfers and assist institutions in controlling their exposure to counterparties in trading operations.
Blockchain payments firm Ripple, which created RLUSD, and LMAX Group had previously revealed a collaborative agreement in January 2026 aimed at broadening institutional adoption of the stablecoin.
According to Standard Chartered, the enhanced collateral functionalities are still pending completion of final documentation, testing procedures, regulatory requirements and internal approvals.
Cointelegraph contacted Standard Chartered for further details and will update this article upon receiving a response.