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Standard Chartered launches RLUSD custody
12 October 2026 Singapore
Image: Sashkin/stock.adobe.com
Standard Chartered now supports institutional custody of Ripple USD (RLUSD) issued on the XRP Ledger.
The service, available through Standard Chartered Bank’s DIFC Branch and regulated by the Dubai Financial Services Authority (DFSA), gives eligible giant access to the Bank’s digital asset custody infrastructure.
The firm explains this marks the next phase of its collaboration to support institutional adoption of RLUSD by combining LMAX Group’s market infrastructure and Standard Chartered’s digital asset custody capabilities within a coordinated operating framework.
The arrangement is expected to give institutional clients more flexibility in how they hold and deploy digital assets for trading by mirroring the value of eligible collateral to LMAX Group without requiring underlying RLUSD to be directly transferred to the trading venue, says the firm.
Waqar Chaudry, global head of digital assets, securities services, and transaction services at Standard Chartered, says: “Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed.”
Chaudry continues: “By integrating our capabilities with Ripple and LMAX, we can help clients incorporate digital assets more confidently into their broader financial activities.”
Luke Dorney, head of custody, digital assets at LMAX Group, comments: “By agreeing to adopt Standard Chartered’s collateral mirroring model, we are providing clients with greater flexibility in how they hold and deploy RLUSD across our cross-asset marketplace, while supporting the custody and risk management standards institutions expect.”
Jack McDonald, senior vice president, stablecoins at Ripple, adds: “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.”
The service, available through Standard Chartered Bank’s DIFC Branch and regulated by the Dubai Financial Services Authority (DFSA), gives eligible giant access to the Bank’s digital asset custody infrastructure.
The firm explains this marks the next phase of its collaboration to support institutional adoption of RLUSD by combining LMAX Group’s market infrastructure and Standard Chartered’s digital asset custody capabilities within a coordinated operating framework.
The arrangement is expected to give institutional clients more flexibility in how they hold and deploy digital assets for trading by mirroring the value of eligible collateral to LMAX Group without requiring underlying RLUSD to be directly transferred to the trading venue, says the firm.
Waqar Chaudry, global head of digital assets, securities services, and transaction services at Standard Chartered, says: “Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded or how risk is managed.”
Chaudry continues: “By integrating our capabilities with Ripple and LMAX, we can help clients incorporate digital assets more confidently into their broader financial activities.”
Luke Dorney, head of custody, digital assets at LMAX Group, comments: “By agreeing to adopt Standard Chartered’s collateral mirroring model, we are providing clients with greater flexibility in how they hold and deploy RLUSD across our cross-asset marketplace, while supporting the custody and risk management standards institutions expect.”
Jack McDonald, senior vice president, stablecoins at Ripple, adds: “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.”
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