RLUSD Custody Service Now Available

Standard Chartered has activated its institutional custody solution for Ripple’s RLUSD stablecoin, marking a significant development in how traditional financial institutions handle digital assets. The service is live through the bank’s Dubai International Financial Centre branch, which falls under the regulation of the Dubai Financial Services Authority. Eligible professional clients can now securely store, manage, and access RLUSD holdings directly via the bank’s digital asset custody infrastructure on the XRP Ledger.

This launch expands Standard Chartered’s digital assets portfolio and provides a regulated environment for institutions seeking exposure to the stablecoin without relying solely on cryptocurrency exchanges. The RLUSD token, issued by Ripple, maintains a stable value pegged to the US dollar, making it suitable for institutional settlement, payments, and hedging purposes.

Strategic Quotes from Key Players

Ripple’s senior vice president of stablecoins, Jack McDonald, described the development as a natural fit for RLUSD.

Standard Chartered’s global head of digital assets, Waqar Chaudry, echoed the emphasis on protection and risk management.

Collateral Integration with LMAX Group in the Works

Beyond custody, Standard Chartered is advancing a collaboration with Ripple and LMAX Group to enable institutions to employ RLUSD as collateral for trading purposes. Under the proposed structure, clients would retain custody of the stablecoin with Standard Chartered while its value is mirrored for use on the LMAX institutional trading platform. This approach aims to minimize direct transfers, reduce counterparty exposure, and enhance operational efficiency.

LMAX Group head of custody, Luke Dorney, highlighted the potential benefits.

The collateral functionality remains in the planning stage. It requires completion of final documentation, rigorous testing, internal reviews, and regulatory approvals before becoming operational.

Broader Expansion into Singapore

Standard Chartered is extending its digital assets offerings beyond the UAE. The bank plans to introduce stablecoin custody services for institutional clients in Singapore by the end of 2026. This move positions the institution to serve a growing hub for crypto activity in Southeast Asia, building on the regulatory framework already established in the DIFC.

Context and Outlook

The announcement builds on earlier partnership discussions between Ripple and LMAX Group from January 2026, aimed at accelerating institutional adoption of RLUSD for trading and cross-asset mobility. Standard Chartered’s move aligns with a broader trend among major banks integrating stablecoins into client services, offering a compliant pathway for large-scale participants.

Cointelegraph reached out to Standard Chartered for additional clarification on operational aspects, though no further details were provided at the time of publication. The bank maintains that the custody and potential collateral solutions represent a step toward safer, more accessible participation in digital asset markets for professional investors.