Standard Chartered has introduced institutional custody for Ripple’s RLUSD stablecoin on the XRP Ledger, adding a banking infrastructure layer to the digital asset and outlining a potential way for trading clients to use the token without moving it to an exchange or trading venue.
Custody launched through Dubai branch
The UK-based multinational bank said Monday that its Dubai International Financial Centre (DIFC) branch had rolled out support for RLUSD on the XRP Ledger. The service is available to eligible institutional clients through Standard Chartered’s digital asset custody infrastructure.
RLUSD is a stablecoin issued by Ripple, the blockchain payments company. Stablecoins are digital tokens designed to maintain a relatively stable value, commonly against a reference currency such as the US dollar. Institutional custody means the bank safeguards the digital assets for clients rather than requiring them to manage the tokens directly.
The launch gives institutions access to custody for RLUSD through an established banking provider. It also represents a step toward broader use of the token in institutional trading arrangements, although the bank’s planned collateral service has not yet been completed.
LMAX collateral plan remains subject to approvals
Standard Chartered said it intends to extend its collateral-mirroring model to LMAX Group, an institutional trading company. Under the proposed arrangement, clients could use eligible RLUSD holdings as trading collateral while keeping the tokens in Standard Chartered’s custody.
The model would allow LMAX to recognize the value of the assets without requiring clients to transfer RLUSD to the trading platform. According to the bank, avoiding that transfer could reduce risks linked to moving digital assets and help institutions manage their exposure to trading counterparties.
The additional collateral capabilities are still conditional. Standard Chartered said they require final documentation, testing, regulatory requirements and internal approvals before they can be introduced.
Ripple and LMAX Group announced a partnership in January 2026 focused on expanding institutional use of RLUSD. The proposed Standard Chartered arrangement would build on that relationship by connecting custody of the stablecoin with its possible use in trading collateral processes.
Market picture
Moneyiar market data recorded XRP at $1.3612835505 at 09:49 on Oct. 13, 2026, down 2.76% over 24 hours and 9.37% over seven days. RLUSD was priced at $0.9999396389 at 09:48, with no recorded change over either period.
For context, the XRP Ledger is the blockchain network on which the bank’s RLUSD custody support has been launched. XRP and RLUSD are separate assets: XRP is the network’s associated cryptocurrency, while RLUSD is Ripple’s stablecoin.
The custody announcement was first reported by Cointelegraph. Standard Chartered had not provided further details in the source material, and the bank’s proposed collateral expansion remains dependent on the conditions it outlined.
