Standard Chartered Launches RLUSD Custody, Plans LMAX Collateral Integration

DIFC branch adds XRP Ledger stablecoin support as bank expands institutional crypto custody

TL;DR

• Standard Chartered launched institutional custody for Ripple USD on the XRP Ledger through its Dubai International Financial Centre branch.
• The bank is working with Ripple and LMAX Group to make RLUSD eligible collateral for certain LMAX products without moving the underlying tokens to the trading venue.
• The planned collateral integration still requires documentation, testing, regulatory requirements and internal approvals.

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Standard Chartered launched institutional custody for Ripple USD, or RLUSD, on the XRP Ledger on Oct. 12 through its Dubai International Financial Centre branch, giving eligible institutional clients access to the bank’s digital asset custody infrastructure.

The DIFC branch is regulated by the Dubai Financial Services Authority. Standard Chartered is also working with Ripple and LMAX Group on a planned arrangement that would let institutions use eligible RLUSD holdings as collateral for certain LMAX products while the underlying tokens remain in custody.

Under Standard Chartered’s collateral-mirroring model, LMAX Group would recognize the value of eligible RLUSD holdings without requiring clients to transfer those assets directly to its trading platform. Standard Chartered said the setup could reduce transfer-related risks and help institutions manage exposure to trading counterparties.

The additional collateral capabilities remain subject to final documentation, testing, regulatory requirements and internal approvals, and no launch date has been announced. Ripple and LMAX Group previously announced a partnership in January 2026 aimed at expanding institutional use of RLUSD.

Standard Chartered said the planned arrangement is expected to “give institutional clients greater flexibility” in how they hold and trade crypto assets. Waqar Chaudry, global head of digital assets at Standard Chartered, said:

“Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed.”

He added:

“The ecosystem must therefore make it easier for clients to hold assets securely, access liquidity and deploy collateral efficiently within trusted frameworks.”

Jack McDonald, Ripple’s SVP for stablecoins, said RLUSD was built for “exactly this kind of institutional use case.” McDonald added:

“Bringing together RLUSD on the XRP Ledger, Standard Chartered's custody capabilities and LMAX Group's institutional trading infrastructure creates a practical path for institutions to put stablecoins to work across global markets.”