Standard Chartered brings Ripple’s RLUSD into banking custody after $765 million quarterly surge
Photo: CryptoSlate
Standard Chartered has launched custody for Ripple's RLUSD stablecoin as it prepares to expand its use as collateral for institutional trading. On Oct. 12, the bank announced that eligible institutional clients can now hold RLUSD issued on the XRP Ledger (XRPL) through its Dubai International Financial Center branch, regulated by the Dubai Financial Services Authority. The launch forms part of a broader arrangement with Ripple and trading group LMAX that would allow institutions to use RLUSD as collateral while keeping their stablecoin holdings with Standard Chartered.
Source: CryptoSlate
