Standard Chartered launches custody services for Ripple's RLUSD stablecoin on XRP Ledger in partnership with LMAX Group, enabling RLUSD as collateral.
DeFi & Yields ·
Standard Chartered has launched custody services for Ripple's RLUSD stablecoin on the XRP Ledger, working alongside Ripple and LMAX Group in a partnership arrangement. The initiative enables RLUSD to function as eligible collateral for certain LMAX products under a collateral mirroring model.
The custody service represents a structural integration of RLUSD into traditional finance infrastructure, allowing institutional users to hold and manage the stablecoin through Standard Chartered's regulated custody offering. By serving as qualifying collateral, RLUSD gains utility within LMAX's existing product suite, expanding its addressable use cases beyond direct transfers and payments.
The announcement does not specify launch timing, transaction volumes, or whether this custody arrangement will expand to other institutions or asset classes under Standard Chartered's framework.