Standard Chartered's Dubai branch launches RLUSD custody service, plans to support its use as collateral for LMAX trading.

PANews October 13 news, according to The Block, Standard Chartered has launched institutional custody services for Ripple's USD stablecoin RLUSD on the XRP Ledger through its Dubai International Financial Centre (DIFC) branch regulated by the Dubai Financial Services Authority (DFSA). Standard Chartered is also working with Ripple and LMAX Group, planning to use a "collateral mirroring" model to allow RLUSD custodied at Standard Chartered to serve as eligible collateral for some LMAX products, without the need to transfer assets to the trading platform. The arrangement still requires final documentation, testing, regulatory requirements, and internal approvals, and no launch date has been announced. Previously, Standard Chartered had announced plans to provide custody services for crypto assets, stablecoins, and tokenized RWAs through its Singapore branch.