Standard Chartered offers RLUSD custody in Dubai and plans LMAX collateral link

Global bank giant Standard Chartered now offers institutional custody of Ripple’s USD-pegged stablecoin RLUSD on the XRP Ledger through its Dubai branch, giving eligible clients a regulated bank to hold the dollar-pegged stablecoin. The bank, with nearly $450 billion in assets under management, also plans to work with Ripple and LMAX Group, an institutional trading venue for foreign exchange and digital assets, so clients can use RLUSD held at Standard Chartered as collateral for trading on LMAX’s platform.