Standard Chartered · CryptoSlate
Standard Chartered brings Ripple’s RLUSD into banking custody after $765 million quarterly surge
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Standard Chartered has launched custody for Ripple's RLUSD stablecoin as it prepares to expand its use as collateral for institutional trading.
Key facts
- Only Circle's USDC posted a larger increase, $915 million, while United Stables ranked third at $474.2 million
- Data from DeFiLlama shows RLUSD's total circulating supply has since climbed to about $2.4 billion, with about $1.14 billion issued on XRPL and another $1.3 billion on Ethereum
- According to RWA Foundation, Ripple recorded the second-largest increase in stablecoin market capitalization during the third quarter, adding $765.3 million over 90 days
- Ripple committed $150 million in financing to support LMAX's expansion, with the agreement targeting RLUSD adoption across spot cryptocurrency trading, perpetual futures, contracts for difference
Summary
01 Standard Chartered has launched custody for Ripple's RLUSD stablecoin, with plans to integrate it into LMAX's institutional trading infrastructure. 02 RLUSD's supply has reached $2.4 billion after adding $765 million in Q3, making it one of the fastest-growing stablecoins. 03 The planned collateral integration could unlock new institutional demand, but the companies have yet to announce a launch date. 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.