Standard Chartered · CoinDesk
The bank, with nearly $450 billion in assets under management, also plans to work with Ripple and LMAX Group
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LMAX plans to allow clients to use RLUSD held at Standard Chartered to back trades, so they would not need to transfer the stablecoin to the venue.
Key facts
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- The bank, with nearly $450 billion in assets under management, also plans to work with Ripple and LMAX Group, an institutional trading venue for foreign exchange and digital assets, so clients
- Global bank giant Standard Chartered now offers institutional custody of Ripple’s USD-pegged stablecoin RLUSD on the XRP Ledger through its Dubai branch, giving eligible clients a regulated bank
- LMAX plans to allow clients to use RLUSD held at Standard Chartered to back trades, so they would not need to transfer the stablecoin to the venue
Summary
Standard Chartered’s Dubai branch now offers regulated institutional custody of Ripple’s dollar-pegged RLUSD stablecoin on the XRP Ledger. The bank and LMAX Group plan to let clients use RLUSD held at Standard Chartered as trading collateral without transferring it to the venue, subject to testing, regulatory requirements and approvals. The arrangement advances Ripple’s effort to establish RLUSD as an institutional settlement and collateral asset while expanding Standard Chartered’s digital-asset custody business. Global bank giant Standard Chartered now offers institutional custody of Ripple’s USD-pegged stablecoin RLUSD on the XRP Ledger through its Dubai branch, giving eligible clients a regulated bank to hold the dollar-pegged stablecoin. The bank, with nearly $450 billion in assets under management, also plans to work with Ripple and LMAX Group, an institutional trading venue for foreign exchange and digital assets, so clients can use RLUSD held at Standard Chartered as collateral for trading on LMAX’s platform.