Standard Chartered Expands Its Custody Model With Ripple RLUSD
Photo: Crypto News Flash
Standard Chartered’s latest Ripple partnership is less about entering the stablecoin market than extending a custody and collateral business the bank has spent more than a year building. On October 12, the banking group announced that it had launched institutional custody for Ripple USD (RLUSD) on the XRP Ledger. It is also working with Ripple and LMAX Group on an arrangement that would allow eligible RLUSD balances to support trading while remaining in bank custody. The custody service is operational through Standard Chartered’s Dubai International Financial Centre branch, regulated by the Dubai Financial Services Authority.
Source: Crypto News Flash
